A Sega Saturn version of the game was demonstrated at the 1996 Electronic Entertainment Expo, at which time Codemasters stated that they were hoping to release the PlayStation and Saturn versions simultaneously. However, in mid-1997 they announced that development on the Saturn version had been halted.
Initially Micro Machines V3 was published only in Europe, but in late 1997 Midway Games acquired the U.S. distribution rights and announced a November 1997 U.S. release for the PlayStation version.
An N64 port of Micro Machines V3 was released in 1999 entitled Micro Machines 64 Turbo. This port lets 8 people play simultaneously while using a Pad Share, where one person uses one side of the controller, steering with the Directional pad, while the other player uses the four C-buttons on the N64. The vehicles accelerate automatically in these modes. A Micro Machines vehicle was packaged with each copy.