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The influence of the depolarization effect on the third‐harmonic generation due to intersubband transitions in the near‐triply‐resonant quantum well structures is studied theoretically. Calculations are performed in the framework of the perturbative density‐matrix formulation with relaxation‐time approximation. The results obtained show that the depolarization effect not only shifts the peak in the third‐harmonic‐generation spectrum but also, due to the coupling between different intersubband transitions, can enhance its maximum value. © 1996 American Institute of Physics.