We consider a system of three identical bosons in $$\mathbb {R}^3$$
R
3
with two-body zero-range interactions and a three-body hard-core repulsion of a given radius $$ a > 0$$
a
>
0
. Using a quadratic form approach, we prove that the corresponding Hamiltonian is self-adjoint and bounded from below for any value of a. In particular, this means that the hard-core repulsion is sufficient to prevent the fall to the center phenomenon found by Minlos and Faddeev in their seminal work on the three-body problem in 1961. Furthermore, in the case of infinite two-body scattering length, also known as unitary limit, we prove the Efimov effect, i.e., we show that the Hamiltonian has an infinite sequence of negative eigenvalues $$E_n$$
E
n
accumulating at zero and fulfilling the asymptotic geometrical law $$\;E_{n+1} / E_n \; \rightarrow \; e^{-\frac{2\pi }{s_0}}\,\; \,\text {for} \,\; n\rightarrow +\infty $$
E
n
+
1
/
E
n
→
e
-
2
π
s
0
for
n
→
+
∞
holds, where $$s_0\approx 1.00624$$
s
0
≈
1.00624
.