Tylenol 3 with Codeine is an acetaminophen-based medicine used to treat severe or moderate pain. Tylenol 3 contains 300mg of acetaminophen and 30mg of codeine per tablet. Acetaminophen is a non-opiate, non-salicylate analgesic that is used in the regular strength of Tylenol and relieves pain. However, Codeine is an opioid narcotic and antitussive drug. The addition of codeine to the acetaminophen base makes Tylenol 3 a class III controlled substance.