| Date: | Wednesday, 23 January 2008 |
| Session: | Day 3 (of 5) |
| Track: | Cheste |
| Track length: | 4.005 km |
| Weather: | Sunny (Air: 12-18°C, Track: 11-22°C) |
| News article: | Valencia: Heikki fastest for McLaren on day 3 Valencia: Day 3 team test notes |
| P | Driver | Constructor | Car | T | Time | Gap | Avg Speed | Laps |
| 1 | Heikki Kovalainen | McLaren-Mercedes | MP4-23 | B | 1:11.000 | 203.070 | 92 | |
| 2 | Felipe Massa | Ferrari | F2008 | B | 1:11.662 | 0.662 | 201.194 | 81 |
| 3 | Kimi Räikkönen | Ferrari | F2008 | B | 1:11.850 | 0.850 | 200.668 | 108 |
| 4 | Lewis Hamilton | McLaren-Mercedes | MP4-23 | B | 1:12.076 | 1.076 | 200.039 | 115 |
| 5 | Kazuki Nakajima | Williams-Toyota | FW29B | B | 1:12.255 | 1.255 | 199.543 | 93 |
| 6 | Fernando Alonso | Renault | R28 | B | 1:12.360 | 1.360 | 199.254 | 111 |
| 7 | Nico Rosberg | Williams-Toyota | FW30 | B | 1:12.493 | 1.493 | 198.888 | 117 |
| 8 | Mark Webber | Red Bull-Renault | RB4 | B | 1:12.594 | 1.594 | 198.611 | 87 |
| 9 | Nick Heidfeld | BMW Sauber-BMW | F1.07B | B | 1:12.976 | 1.976 | 197.572 | 51 |
| 10 | Sebastian Vettel | Toro Rosso-Ferrari | STR2B | B | 1:13.015 | 2.015 | 197.466 | 63 |
| 11 | Timo Glock | Toyota | TF108 | B | 1:13.129 | 2.129 | 197.158 | 95 |
| 12 | Robert Kubica | BMW Sauber-BMW | F1.08 | B | 1:13.230 | 2.230 | 196.887 | 121 |
| 13 | Sébastien Bourdais | Toro Rosso-Ferrari | STR2B | B | 1:13.307 | 2.307 | 196.680 | 118 |
| 14 | Adrian Sutil | Force India-Ferrari | F8-VIIB | B | 1:13.409 | 2.409 | 196.406 | 98 |
| 15 | Jarno Trulli | Toyota | TF108 | B | 1:13.547 | 2.547 | 196.038 | 96 |
| 16 | Rubens Barrichello | Honda | RA108 | B | 1:14.588 | 3.588 | 193.302 | 36 |
| 17 | Takashi Kogure | Honda | RA107 | B | 1:16.761 | 5.761 | 187.830 | 50 |