Fronted by former Hollyoaks stars Matt Littler (Max Cunningham) and Darren Jefferies (O.B. O'Brien), the live music programme - sponsored by Matalan.co.uk - will return to screens on June 11.
Among the acts showcased on the upcoming series are Peter Andre, The Wombats, Parade, Tinchy Strider and Example.
A total of 12 episodes, each lasting 30 minutes, will be recorded in the Hollyoaks village, while an additional three 'Best Of' shows will also air.
Executive producer Lee Hardman commented: "We're delighted that The Hollyoaks Music Show with Matalan.co.uk is back for a third series and we're already excited about the new lineup."
Littler and Jefferies added: "We're stupidly excited to be going back to Hollyoaks' village! This new series of the Music Show is going to be the best yet and we really cannot wait to get involved. Huzzah!"
Earlier this year, Lime Pictures and Channel 4 denied that Hollyoaks was facing the axe.