The Panzerkampfwagen III Ausführung L (Panzer III L) (Sd.Kfz. Index: Sd.Kfz. 141/1) is the tenth variant of the Panzerkampfwagen III medium tank family (the "I" variant was skipped). It is essentially a newly manufactured Panzer III based on Panzer III J1 standards, which was modified from existing Panzer III Js. Both the turret and the frontal hull were outfitted with spaced armour. It was also outfitted with a new system for transferring heated engine coolant to another vehicle. However, distinguishing the different variations based on the look of spaced armour on Panzer IIIs is not a viable method. The front of the turret and the hull of the latest production Panzer IV J tanks were fitted with 20 mm spaced armour plates. Some older Panzer III variants also had it fitted in the field.

Introduced in the Closed Beta Test for Ground Forces before Update 1.41, the Panzer III L is armed with the same long-barrelled 50 Kampfwagenkanone (KwK) 39 mm L/60 tank gun as the preceding Panzer III J1, but it also has 20 mm spaced armour on the front of the turret and hull. The Panzer III L's playstyle is essentially the same, however, players may appreciate the small upgrades in frontal protection. Frontal engagement with tanks that fire HEAT ammunition, such as the M4A3 (105) is easier because the 20 mm spaced armour limits the efficacy of the HEAT projectiles when attacked from the tank front. Nonetheless, the armour upgrade is insufficient for aggressive battle, and caution is still required, particularly against Soviet early T-34 medium tanks and early KV-1 heavy tanks.