This game scales back a lot of gameplay additions made in Bomberman '94 and Super Bomberman 2 and returns to the classic formula. As for multiplayer, the game adds a lot over the previous game by adding more characters, each representing a country of Earth (including one of the villains, Pretty Bomber, as France, which marks her first appearance as a non-enemy character). There are also new cutscenes for the Story mode, which centers around the resurrection of the Five Dastardly Bombers who were previously defeated in Super Bomberman 2, as Shirobon and Kurobon adventure across various element themed stars in which the Five are causing havoc, under the rule of their creator, Bagular.

The overall animation graphics changed with the third installment; unlike Super Bomberman 1 and 2, the third sequel's graphics were simplified, which look similar to the graphics of the old PC-Engine/TurboGrafx-16 Bomberman games, and most of the music in the game are remixed versions of previous older Bomberman soundtracks.

One night, Bagular enters a junkyard inside of his UFO. He finds the bodies of the five Dastardly Bombers, and then sucks them into his UFO. Upon doing that, he sets all five on tables, and begins working on reviving them! Upon hearing this, White Bomber and Black Bomber set out to stop the five Dastardly Bombers, and ultimately defeat Bagular himself. The two set out to save the day once again!

On release, Famicom Tsūshin scored the game a 28 out of 40.