A three-body scattering theory previously proposed by one of the present authors is developed to be applied to the saturated ferromagnetic state in the two-dimensional Hubbard model. The single-particle Green's function is calculated by taking account of the multiple scattering between two electrons and one hole. Several limiting cases are discussed and the relation to the variational principle is examined. The importance of the three-body correlation is demonstrated in comparison with the results of the ladder approximation. A possible phase boundary for the Nagaoka ground state is presented for the square lattice, which improves the previous variational results.