An efficient organic cooled low activation ferritic steel first wall and shield has been designed for the D-3He power reactor ARIES-III. The inboard shield is 65 cm thick and provides adequate magnet protection. The steel structure has a peak end-of-life damage of only 63 dpa and is expected to last for the whole reactor life. The total absorbed dose rate in the organic coolant is 1026 eV/s resulting in a radiolytic decomposition rate of 171 kg/hr. Tritium production leads to a release rate of 33.5 Ci/d and an acceptable off-site effluent dose < 1.3 mrem/yr.