Two courts would be set up at Nagpur and one in Mumbai, an official said, after the cabinet meeting, which was chaired by Chief Minister Prithviraj Chavan.
The cabinet also approved creation of 15 posts for these courts.
The Supreme Court had in January specifically directed establishing 22 CBI special courts in different states for speedy trial of pending cases.
The apex court had also directed the state chief secretary and the finance department to expedite the matter of setting up these three courts.
Maharashtra accounts for 1,062 of the total 9,910 corruption cases investigated by the CBI and pending trial at different stages in courts across the country, as on January 31, 2011.