UNITED STATES

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549



FORM N-PX



ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY



Investment Company Act file number 811-08497



Name of Fund: BlackRock Corporate High Yield Fund III, Inc. (CYE)



Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809



Name and address of agent for service: Donald C. Burke, Chief Executive

Officer, BlackRock Corporate High Yield Fund III, Inc., 800 Scudders Mill Road,

Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011



Registrant's telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 05/31 Date of reporting period: 07/01/2007 --

06/30/2008 Item 1 -- Proxy Voting Record -- Attached hereto.



Pursuant to the requirements of the Investment Company Act of 1940, the

registrant has duly caused this report to be signed on its behalf by the

undersigned, thereunto duly authorized.



BlackRock Corporate High Yield Fund III, Inc.



By: /s/ Donald C. Burke

Donald C. Burke

Chief Executive Officer of

BlackRock Corporate High Yield Fund III, Inc.



Date: August 25, 2008



******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-08497
Reporting Period: 07/01/2007 - 06/30/2008
BlackRock Corporate High Yield Fund III, Inc.









================ BLACKROCK CORPORATE HIGH YIELD FUND III, INC. =================


GEO SPECIALTY CHEMICALS INC.

Ticker:       GSCQ           Security ID:  37246R205
Meeting Date: NOV 15, 2007   Meeting Type: Annual
Record Date:  OCT 4, 2007

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1     Elect Director David L. Eaton             For       For        Management
2     Elect Director Charles Macaluso           For       For        Management
3     Elect Director Bradley E. Scher           For       For        Management
4     Elect Director Kenneth A. Ghazey          For       For        Management
5     Increase in the Authorized Share Capital  None      For        Management
      from 6 Million Shares to 120 Million
      Shares


--------------------------------------------------------------------------------

LODGIAN, INC.

Ticker:       LGN            Security ID:  54021P403
Meeting Date: APR 24, 2008   Meeting Type: Annual
Record Date:  MAR 10, 2008

#     Proposal                                  Mgt Rec   Vote Cast  Sponsor
1.1   Elect Director Stewart J. Brown           For       For        Management
1.2   Elect Director Alex R. Lieblong           For       For        Management
1.3   Elect Director Paul J. Garity             For       For        Management
1.4   Elect Director Peter T. Cyrus             For       For        Management
1.5   Elect Director Michael J. Grondahl        For       For        Management
1.6   Elect Director W. Blair Allen             For       For        Management
1.7   Elect Director Mark S. Oei                For       For        Management
2     Ratify Auditors                           For       For        Management

========== END NPX REPORT