The third stage is held on-site at the Faculty of Physics, Mathematics and Optometry. Participants take part in an experimental round, where they have to explain a demonstration and perform an experimental task, and a theoretical round, where they have to solve three theory problems. The total time for the tasks is five and a half hours. The entries are evaluated by a jury composed of physics teachers, members of the Faculty of Physics, Mathematics and Optometry and students. Traditionally, the best experimenter and the best theoretician are selected in each grade group.

Participants who have demonstrated the highest performance – both in the National Physics Olympiad and in the Open Physics Olympiad – are invited to take part in a training team – where, under the guidance of the faculty of Physics, Mathematics and Optometry's teaching staff and students, they learn to solve physics problems in depth – both theoretically and experimentally. The Latvian team for the International Physics Olympiad is determined by the participants' results in the selection competition, which is also the Nordic-Baltic Physics Olympiad, organized annually by Estonia.

The authors of the Physics Olympiad tasks include professors, scientists and even students – it's the quality and the idea that counts, not the author. Physics Olympiads have developed over the years into a very important tool for cooperation between high school and university; the challenge of coming up with interesting and valuable problems for students inspires teachers and students in their daily studies and research, because by their very nature the best physicists are no different from the students who take part in the Olympiads – they love solving physics problems too! And students gain a greater understanding of modern scientific research and the methods used in it through the Olympiads.