The third wave of Walt Disney Treasures was released on May 18, 2004. It was originally planned to be released in December 2003, but was delayed for almost half a year in order to meet an increased demand with a higher number of tins produced. This wave was the first to have a certificate of authenticity with the individual number of the tin on it, replacing the number embossed on the tin. This was the final wave released with side straps.

Mickey Mouse in Living Color, Volume Two

This set picks up from where Mickey Mouse in Living Color, Volume One leaves off. This was one of the few "Treasures" sets released abroad, as well as in the United States, on April 4, 2005. Like the first volume, it was retitled Mickey Mouse in Living Colour in the UK due to American and British English spelling differences. 175,000 sets produced.

Disc one

Disc two

The Chronological Donald

This set covers the first leg of Donald Duck's long career, from 1934 to 1941. This was one of the few "Treasures" sets released abroad, as well as in the United States, on April 4, 2005. 165,000 sets produced.

Disc one

Disc two

Walt Disney on the Front Lines

This set covers all the various cartoons that were themed to World War II. 250,000 sets produced.

Disc one

(*) = non-theatrical

Disc two

Tomorrow Land

This set depicts the various episodes of the anthology series that were set in Tomorrowland, many of the episodes directed by legendary Disney animator Ward Kimball. 105,000 sets produced.

Disc one

Disc two