Folagbade Olateru Olagbegi III, CFR, SAN (June 26, 1941 – April 16, 2019) was the traditional ruler of Owo (Olowo of Owo), Ondo State, Nigeria.
He was the eldest son of the late Olowo of Owo, Sir Olateru Olagbegi (1910–1998).
He succeeded his father as the Olowo of Owo in 1999 but was given the staff of office as the Olowo of Owo on December 11, 2003 by late Olusegun Agagu, former executive governor of Ondo State.