We present the discovery of Ursa Major III/UNIONS 1, the least luminous known satellite of the Milky Way, which is estimated to have an absolute V-band magnitude of
+
2.2
−
0.3
+
0.4
mag, equivalent to a total stellar mass of
16
−
5
+
6
M
⊙. Ursa Major III/UNIONS 1 was uncovered in the deep, wide-field Ultraviolet Near Infrared Optical Northern Survey (UNIONS) and is consistent with an old (τ > 11 Gyr), metal-poor ([Fe/H] ∼ −2.2) stellar population at a heliocentric distance of ∼10 kpc. Despite its being compact (r
h = 3 ± 1 pc) and composed of few stars, we confirm the reality of Ursa Major III/UNIONS 1 with Keck II/DEIMOS follow-up spectroscopy and identify 11 radial velocity members, eight of which have full astrometric data from Gaia and are co-moving based on their proper motions. Based on these 11 radial velocity members, we derive an intrinsic velocity dispersion of
3.7
−
1.0
+
1.4
km s−1 but some caveats preclude this value from being interpreted as a direct indicator of the underlying gravitational potential at this time. Primarily, the exclusion of the largest velocity outlier from the member list drops the velocity dispersion to
1.9
−
1.1
+
1.4
km s−1, and the subsequent removal of an additional outlier star produces an unresolved velocity dispersion. While the presence of binary stars may be inflating the measurement, the possibility of a significant velocity dispersion makes Ursa Major III/UNIONS 1 a high-priority candidate for multi-epoch spectroscopic follow-ups to deduce the true nature of this incredibly faint satellite.