A command version, the BMP-3K, is available which is the same as the basic BMP-3 but with additional communications and navigation equipment.

The main armament of the BMP-3 is a 100 mm 2A70 semi-automatic rifled gun/missile launcher, which is stabilised in two axes and can fire either 3UOF HE-FRAG (High Explosive-Fragmentation) rounds or 3UBK10 anti-tank guided missiles. Effective range for the HE-FRAG round is 4000 m. Muzzle velocity is 250 m/sec. 22 HE-FRAG rounds can be carried in the automatic loader, total ammunition load being 40 rounds. Rate of fire is 10 rounds per minute.

The gun fires the 3UBK10 anti-tank guided missile round which consists of the 9M117 laser beamriding missile and container. This missile is used in the Bastion missile system (NATO designation AT-10 Stabber). The missile can engage tanks with explosive reactive armour (ERA) as well as slow, low-flying targets such as helicopters. Range is 100 to 4000 m. Hit probability is given as at least 0.8 with armour penetration of 600 mm. Ammunition load is 8 rounds.

Armament also includes a 30 mm 2A72 automatic gun, stabilised in two axes which fires 3UOR-6 and 3UOR-8 rounds. Ammunition load is 500 AP (Armour-Piercing) or HE-FRAG rounds. Rate of fire is more than 300 rounds/min and range is 1500 to 2000 m. There are also one 7.62 mm PKT coaxial machine gun and two 7.62 bow machine guns.

The BMP-3 can be fitted with the Arena Defensive Aids suite, developed by KBM Kolumna. The system consists of target detection and tracking radar, computer and processing unit and protective ammunition. The system is automatic: the radar passes tracking data to the computer, which selects the number of ammunition rounds and controls firing. The selected ammunition is then expelled as a directed field.

The hull and turret are constructed from aluminium alloy armour. Protection also includes steel external straps fitted on the turret, side armour displacement panels and a double-bottom at the front of the vehicle. NBC equipment includes a filter ventilation unit as well as hermetic sealing. This system is located in the rear of the vehicle, as is the ejection cooling system which, coupled with the reduced length of the gas ventilation system exhaust, serves to reduce the tank's thermal signature.

The fire control system is automatic with manual override for both gunner and commander. It includes a 1V539 ballistic computer, 2E52 electromechanical armament stabiliser and 1D16 laser rangefinder. The gunner has a 1K13-2 main sight, a combined image-intensified day/night sight and PPD-1 standby day sight. The commander has a 1PZ-10 day sight and TKN-3 combined day and image-intensified night sight.

The French company SAGEM, with Kurganmashzavod and Peleng of Belarus, have developed the Namut thermal sight for the BMP-3. This sight is based on the SAGEM Athos 8 - 12 micron three field of view thermal imager and is fitted to the BMP-3 ICV's delivered to the United Arab Emirates.

The engine is the V-shaped UTD-29 diesel engine, which produces 500 hp. The transversal mount of the engine enables the wheel drive, cardan shaft for the waterjet drives and electric bilge pump to be located underneath. Transmission is hydromechanical with a hydrostatic gearbox for the steering gear and power take-off for the water jets.

The BMP-3 vehicle weighs 18.7 tons and is capable of a maximum speed of 70 km/h and range of 600 km on roads.