Two were arrested on Tuesday evening, one in Glasgow and the other in south east London. The third man was arrested on Wednesday.
They were released on Wednesday night after being questioned for most of the day by murder squad detectives.
Two were arrested on Tuesday evening, one in Glasgow and the other in south east London. The third man was arrested on Wednesday.
None of the arrests were as a result of a BBC Crimewatch UK appeal on Tuesday evening by Stephen's parents Doreen and Neville Lawrence.
However the new television appeal did prompt more than 70 calls which a police spokeswoman said some were "extremely useful."
It is not believed the trio are any of the five original suspects in the case.
A spokesman for Strathclyde Police said a joint operation between the Metropolitan Police and the Scottish Crime Squad had resulted in the arrest of a 24-year-old man in Glasgow.
Unprovoked attack
The men were questioned about the death of Stephen, an 18-year-old A-level student who was stabbed in an unprovoked attack by a gang of white youths at a bus stop in Eltham, south-east London, in April 1993.
The arrests came as Stephen's parents and deputy assistant commissioner John Grieve, who is the officer in charge of the case, made a witness appeal on the BBC's Crimewatch programme.
The appeal had generated calls relating to people they were "very, very interested in and have been appealing about," said Mr Grieve, who is also the head of the Metropolitan Police's racial and violent crimes task force.
He said new technology had given a fresh boost into the inquiry, adding: "We have got new witnesses. We have got new ways of analysing the massive amount of witness statements we have already collected.
"There are new developments in scientific evidence which are nothing short of miraculous in finding conclusive evidence."
New tests will be carried out on a knife and a coat which were found close to the murder scene.
Mr Grieve said: "We are submitting these exhibits because the new techniques can produce things from here that you would not have thought was possible maybe even two months ago."
He also said police were "very close" to identifying a potentially vital witness who is thought to have been at the scene of the murder.
Officers on the squad have not ruled out the blond-haired witness being a woman.
No-one has been convicted for the killing but five men have at various times been arrested.
Bungled investigation
A private criminal prosecution against three of them collapsed.
The current investigation team is the eighth set up to investigate the murder and has been running for 13 months.
Stephen's parents are still pressing ahead with a compensation claim against the police officers involved in the bungled murder investigation.
Former Metropolitan Police Commissioner Sir Paul Condon is among 42 officers who are being sued. The others range from the rank of constable to superintendent.