The stranded trio became stuck in the lift in Perth House, Australia Close, Landport, earlier this evening.
The lift broke down on the second floor of the block of flats.
Two crews from Southsea fire station were called to rescue them at 8.15pm.
They used a lift key to open the doors and free the trapped occupants.
Nobody was injured, a spokesman from Hampshire Fire and Rescue Service added.
The incident was handed over to specialist engineers, who arrived shortly after the three people were released.