Lost Planet 3 is the next part of an action game series which takes place on a foreign, glaciated planet. The first and the second part of the game was created by Capcom Studio, but third part was developed by Spark Unlimited studio.

In Lost Planet 3 we come back to the roots of the series to discover the origins of human presence on E.D.N. III. This time we take control of "origin" pilot named Jim, who leaves the safety of his home in search of profit. "Coronis,"a local base is in need of thermal energy so Jim and other mercenaries have to explore the dangerous outlying areas. Most of them are inhabited by Akrids (a breed of huge monsters).

Spark Unlimited resigned elements known from Lost Planet 2 and returned to the ideas from the first part. The main element of the game is the single player campaign, which tells the story taking place on many glaciated worlds. Greater emphasis is put on using battle machines and big Jim's mech. The Gameplay at the helm of mech is displayed from the first person perspective and the on-foot combat from the third person perspective.