This study considers zone‐based registration (ZBR), which is adopted by most mobile cellular networks. In ZBR, a user equipment (UE) registers its location area (or zone) in a network database (DB) whenever it enters a new zone. Even though ZBR is implemented in most networks for a UE to keep only one zone (1ZR), it is also possible for a UE to keep multiple zones. Therefore, a ZBR with two zones (2ZR) is investigated, and some mathematical models for 2ZR are presented. With respect to ZBR with three zones (3ZR), several studies have been reported, but these employed computer simulations owing to the complexity of the cases, and there have been no reports on a mathematical 3ZR model to analyze its performance. In this study, we propose a new mathematical model for 3ZR for the first time, and analyze the performance of 3ZR using this model. The numerical results for various scenarios show that, as the UE frequently enters zones, the proposed 3ZR model outperforms 1ZR and 2ZR. Our results help determine the optimal number of zones that a UE keeps, and minimize the signaling cost for radio channels in mobile cellular networks.