diff --git a/docs/configuration-file.md b/docs/configuration-file.md
index f8ceb2635..0f37a3e92 100644
--- a/docs/configuration-file.md
+++ b/docs/configuration-file.md
@@ -8,7 +8,7 @@ The `generator` property from `package.json` file must contain a JSON object tha
 |Name|Type|Description|
 |---|---|---|
 |`renderer`| String | Its value can be either `react` or `nunjucks` (default).
-|`apiVersion`| String | Determines which **major** version of the [Parser-API](https://github.com/asyncapi/parser-api) the template uses. For example, `v2` for `v2.x.x`. If not specified, the Generator assumes the template is not compatible with the Parser-API so it will use the [Parser-JS v1 API](https://github.com/asyncapi/parser-js/tree/v1.18.1#api-documentation). For templates that need to support AsyncAPI specification v3 make sure to use `v2` [Parser-API](https://github.com/asyncapi/parser-api). If the template uses a version of the Parser-API that is not supported by the Generator, the Generator will throw an error.
+|`apiVersion`| String | Determines which **major** version of the [Parser-API](https://github.com/asyncapi/parser-api) the template uses. For example, `v2` for `v2.x.x`. If not specified, the Generator assumes the template is not compatible with the Parser-API so it will use the [Parser-JS v1 API](https://github.com/asyncapi/parser-js/tree/v1.18.1#api-documentation). For templates that need to support AsyncAPI specification v3 make sure to use `v3` [Parser-API](https://github.com/asyncapi/parser-api). If the template uses a version of the Parser-API that is not supported by the Generator, the Generator will throw an error.
 |`supportedProtocols`| [String] | A list with all the protocols this template supports.
 |`parameters`| Object[String, Object] | An object with all the parameters that can be passed when generating the template. When using the command line, it's done by indicating `--param name=value` or `-p name=value`.
 |`parameters[param].description`| String | A user-friendly description about the parameter.
@@ -28,7 +28,7 @@ The `generator` property from `package.json` file must contain a JSON object tha
 "generator":
 {
   "renderer": "react",
-  "apiVersion": "v2",
+  "apiVersion": "v3",
   "supportedProtocols": ["amqp", "mqtt"],
   "parameters": {
     "server": {
diff --git a/lib/templateConfigValidator.js b/lib/templateConfigValidator.js
index b6be15864..3b57ef759 100644
--- a/lib/templateConfigValidator.js
+++ b/lib/templateConfigValidator.js
@@ -11,7 +11,8 @@ const ajv = new Ajv({ allErrors: true });
 // See https://github.com/asyncapi/parser-api
 const supportedParserAPIMajorVersions = [
   'v1',
-  'v2'
+  'v2',
+  'v3'
 ];
 
 /**
diff --git a/package.json b/package.json
index f85f90f49..91a1a14ef 100644
--- a/package.json
+++ b/package.json
@@ -51,7 +51,7 @@
     "@asyncapi/generator-react-sdk": "^1.0.1",
     "@asyncapi/parser": "^2.1.1",
     "@npmcli/arborist": "^2.2.4",
-    "@smoya/multi-parser": "^4.0.0",
+    "@smoya/multi-parser": "^5.0.0",
     "ajv": "^8.12.0",
     "chokidar": "^3.4.0",
     "commander": "^6.1.0",
diff --git a/test/parser.test.js b/test/parser.test.js
index da7d76c38..93bda806b 100644
--- a/test/parser.test.js
+++ b/test/parser.test.js
@@ -6,9 +6,9 @@ const dummyV3Document = fs.readFileSync(path.resolve(__dirname, './docs/dummyV3.
 
 describe('Parser', () => {
   describe('sanitizeTemplateApiVersion', () => {
-    it('should return version number when given `v2` syntax', () => {
-      const rawVersion = 'v2';
-      const expectedVersion = 2;
+    it('should return version number when given `v99` syntax', () => {
+      const rawVersion = 'v99';
+      const expectedVersion = 99;
       const sanitizedVersion = sanitizeTemplateApiVersion(rawVersion);
 
       expect(sanitizedVersion).toStrictEqual(expectedVersion);
@@ -45,6 +45,14 @@ describe('Parser', () => {
 
       expect(isUsingNewAPI).toStrictEqual(true);
     });
+    it('should use new parser api if v3', () => {
+      const templateConfig = {
+        apiVersion: 'v3'
+      };
+      const isUsingNewAPI = usesNewAPI(templateConfig);
+
+      expect(isUsingNewAPI).toStrictEqual(true);
+    });
     it('should not use new API if no apiVersion', () => {
       const templateConfig = { };
       const isUsingNewAPI = usesNewAPI(templateConfig);
@@ -65,6 +73,12 @@ describe('Parser', () => {
       expect(parsedDocument).toBeDefined();
       expect(parsedDocument.document.version()).toEqual('2.3.0');
     });
+    it('should be able to parse AsyncAPI v2 document for parser API v3', async () => {
+      const parsedDocument = await parse(dummyV2Document, {}, {templateConfig: {apiVersion: 'v3'}});
+
+      expect(parsedDocument).toBeDefined();
+      expect(parsedDocument.document.version()).toEqual('2.3.0');
+    });
     it('should not be able to parse AsyncAPI v3 document for parser API v1', async () => {
       const parsedDocument = await parse(dummyV3Document, {}, {templateConfig: {apiVersion: 'v1'}});
 
@@ -80,6 +94,12 @@ describe('Parser', () => {
     it('should be able to parse AsyncAPI v3 document for parser API v2', async () => {
       const parsedDocument = await parse(dummyV3Document, {}, {templateConfig: {apiVersion: 'v2'}});
 
+      expect(parsedDocument).toBeDefined();
+      expect(parsedDocument.document.version()).toEqual('3.0.0');
+    });
+    it('should be able to parse AsyncAPI v3 document for parser API v3', async () => {
+      const parsedDocument = await parse(dummyV3Document, {}, {templateConfig: {apiVersion: 'v3'}});
+
       expect(parsedDocument).toBeDefined();
       expect(parsedDocument.document.version()).toEqual('3.0.0');
     });