The M3 model of the E90/E92/E93 3 Series range was powered by the BMW S65 V8 engine and was produced in sedan, convertible and coupé body styles. The E9x is the first and only standard production M3 powered by a V8 engine as its successor would revert to using a straight 6 engine. In the standard M3, the S65 engine rated at 309 kW (420 PS; 414 hp) at 8,300 rpm and 400 N⋅m (295 lb⋅ft) at 3,900 rpm.

Initially, the M3 was produced with a 6-speed manual transmission. In April 2008, the E90/E92/E93 M3 became the first BMW to be available with a dual-clutch transmission when the 7-speed Getrag "M-DCT" transmission was introduced as an option.

The official 0 to 100 km/h (62 mph) acceleration times for the coupé and sedan are 4.6 seconds with the DCT transmission (4.8 seconds with the manual transmission) and 5.1 seconds for the convertible.

The E90 and E92 versions received many positive reviews, including "the greatest all-around car in the world", "the finest car on the market, period" and "the best, most complete car in the world".