The second day of the 2011 NFL Draft concluded with the third round. Arkansas QB Ryan Mallett saw his slide end when the Patriots took him at No. 74. He'll get to develop behind Tom Brady for a few seasons, similar to the Brett Favre-Aaron Rodgers situation several years ago. The Panthers had the last selection of the round as compensation for losing Julius Peppers the previous year.
Here is the complete third round:
| Pick | Team | Player | Pos | College |
| 65 | Panthers | Terrell McClain | DL | South Florida |
| 66 | Bengals | Dontay Moch | DL | Nevada |
| 67 | Broncos | Nate Irving | LB | N.C. State |
| 68 | Bills | Kelvin Sheppard | LB | LSU |
| 69 | Cardinals | Robert Housler | TE | Florida Atlantic |
| 70 | Chiefs | Justin Houston | LB | Georgia |
| 71 | Cowboys | DeMarco Murray | RB | Oklahoma |
| 72 | Saints | Martez Wilson | OLB | Illinois |
| 73 | Patriots | Stevan Ridley | RB | LSU |
| 74 | Patriots | Ryan Mallett | QB | Arkansas |
| 75 | Seahawks | John Moffitt | G | Wisconsin |
| 76 | 49ers | William Rackley | OL | Lehigh |
| 77 | Titans | Jurrell Casey | DL | USC |
| 78 | Rams | Austin Pettis | WR | Boise St. |
| 79 | Redskins | Leonard Hankerson | WR | Miami |
| 80 | 49ers | Chris Culliver | DB | South Carolina |
| 81 | Raiders | DeMarcus Van Dyke | DB | Miami |
| 82 | Chargers | Vincent Brown | WR | San Diego St. |
| 83 | Giants | Jerrel Jernigan | WR | Troy |
| 84 | Buccaneers | Mason Foster | LB | Washington |
| 85 | Ravens | Jah Reid | OT | Central Florida |
| 86 | Chiefs | Allen Bailey | DL | Miami |
| 87 | Colts | Drake Nevis | DL | LSU |
| 88 | Saints | Johnny Patrick | DB | Louisville |
| 89 | Chargers | Shareece Wright | DB | USC |
| 90 | Eagles | Curtis Marsh | DB | Utah St. |
| 91 | Falcons | Akeem Dent | LB | Georgia |
| 92 | Raiders | Joseph Barksdale | OL | LSU |
| 93 | Bears | Chris Conte | DB | California |
| 94 | Jets | Kenrick Ellis | DL | Hampton |
| 95 | Steelers | Curtis Brown | DB | Texas |
| 96 | Packers | Alex Green | RB | Hawaii |
| 97 | Panthers | Sione Fua | DL | Stanford |