Donkey Kong Land III (initially planned for release with the subtitle The Race Against Time) is the third and final entry in the Donkey Kong Land trilogy of games for the original Game Boy and later became ported to the Game Boy Color exclusive to Japan. It was developed by Rareware and distributed by Nintendo. Like the other games in the series, Donkey Kong Land III served as the portable counterpart to the SNES game Donkey Kong Country 3: Dixie Kong's Double Trouble!. In this case, Donkey Kong Land III is both a remake and a partial follow-up to Donkey Kong Country 3: Dixie Kong's Double Trouble!. Like the other games in the Donkey Kong Land series, Donkey Kong Land III was enhanced for the Super Game Boy and was packaged with a "banana yellow" cartridge.

A contest has begun with big prizes for the first person who discovers the Lost World. Donkey Kong and Diddy Kong have already taken off to find it, leaving a disgruntled Dixie Kong behind. Deciding to prove herself every bit of capable as them, Dixie partners up with her little cousin Kiddy Kong. Unfortunately, Baron K. Roolenstein and the Kremling Krew are also searching high and low for the fabled land. While never stated outright in the game, it's believed that the setting is the Northern Kremisphere, as the level archetypes are the same as in Donkey Kong Country 3 which took place in the Northern Kremisphere. While the levels have the same environments and the Donkey Kong Country 3 bosses return, the worlds and stage layout are all unique.

Wrinkly Kong is the only non-playable Kong family member to make an appearance. A character simply titled Bear or "Brothers Bear" gives Dixie Kong and Kiddy Kong hints and can teleport them to another world as well as hosting them a card minigame. Judging from his appearance, it is most likely he's Bazaar Bear from Donkey Kong Country 3. The Animal Buddies Ellie the Elephant, Enguarde the Swordfish, Squawks the Parrot, and Squitter the Spider all return. Donkey Kong Land III also marks the only time in a Rare Donkey Kong game where neither Donkey Kong nor Diddy Kong actually appears.