The director builds the tension nicely with the first appearance of a Dementor on the Hogwarts Express at night, visible in the flashes of lightning from outside.
The gnarled creatures cast a long, deathly shadow over the entire film, brought vividly to life by the special effects department.
Light and shadow are used to striking effect by director of photography Michael Seresin, giving the entire film a more forbidding, eerie quality.
Radcliffe is, at last, beginning to relax in front of the cameras, finally showing us glimmers of Harry's anguish and vulnerability.
Watson is terrific, relishing Hermione's pivotal role in the film's final act, while Grint once again demonstrates his impeccable comic timing.
Oldman gleefully toys with the two sides of his character and Thewlis is a delight. Children everywhere will wish they too had a teacher as nurturing as Professor Lupin.
Screenwriter Steve Kloves remains largely faithful to Rowling's book, galloping through all of the big set-pieces including a visit to the wizarding village of Hogsmeade, a memorable encounter with the Whomping Willow and a trip to the Shrieking Shack.
Unfortunately, for the sake of expediency, he removes a lot of the plotting and character development.
The Quidditch season is reduced to just one match and Hogwarts' curriculum no longer includes Potions with Snape (Rickman) or Transfiguration with McGonagall (Smith), where we learn all about Animagi (wizards who can transform themselves into animals at will).
Peeves the poltergeist has been exorcised entirely and, curiously, there is no discussion of the Messrs Moony, Wormtail, Padfoot and Prongs.
Little wonder then that the third film is the shortest so far.
Quibbles aside, Harry Potter And The Prisoner Of Azkaban is a lively and hugely enjoyable thrill ride guaranteed to cast a spell on audiences of all ages.