Aimed at a younger buyer with off-road recreation in mind, the three-door Prado will be sold alongside the current five-door models from November.
Aside from its shorter stature, the three-door version remains identical to the new Prado 150 range, with only the roof and rear-quarter panel needing to be changed.
Its short wheelbase and inherited higher break-over angle mean the three door version is more capable off-road that its larger sibling, able to travel over steeper peaks than five-door.
Its reduced weight not only means improved acceleration and fuel efficiency but also a strong towing capacity of three tonnes - 500kg more than the already impressive five-door.
Toyota Australia's senior executive director sales and marketing David Buttner said three-door Prado was a valuable addition to the local range.
"Prado three-door will be the ideal vehicle for couples who want a vehicle for its sporty styling, as well as Prado's legendary towing and off-road abilities," Mr Buttner said.
All next-generation Prados in Australia will have seven airbags, vehicle stability control, traction control and anti-lock brakes.
Alloy wheels and Toyota's Smart Entry & Start, which provides keyless entry and ignition, are also standard.