Valkyrie stats and skills can be changed with various weapons and equipment, which can be improved by using in-game resources. Additionally, the two types Quantum and Imaginary exist and are disadvantaged over each other, neutral towards the above three types, and advantaged over themselves. The three types Mech, Biologic, and Psychic are based on a rock-paper-scissors-based system where types are advantaged and disadvantaged depending on both the enemy type and their own type. Each Valkyrie has unique attack, evasion, switch, and ultimate skills, as well as a type. During battle, players may freely move their character around the battlefield and switch between their three deployed Valkyries in real-time. Honkai Impact 3rd has players control a team of up to three characters, known as " Valkyries", in real-time combat against various enemies. The game starts out in the post-3rd Impact era. Additionally, in the game, Honkai Impacts, also referred to as Honkai Eruptions and Outbreaks, are large-scale Honkai disasters that coincide with the birth of a Herrscher.
The "Impact" part of the title is absent from both the Chinese and Japanese versions, but may be a reference to Neon Genesis Evangelion. The word "Honkai" based on the Japanese 崩壊 (ほうかい, "collapse" or "decay"), pronounced "hōkai", which is the direct translation of the Chinese 崩坏 (bēng huài) used in the original Chinese title.