In the present article we carry on a systematic study of 3-quasi-Sasakianmanifolds. In particular, we prove that the three Reeb vector fields generate an involutive distribution determining a canonical totally geodesic and Riemannian foliation. Locally, the leaves of this foliation turn out to be Lie groups: either the orthogonal group or an abelian one.We showthat 3-quasi-Sasakian manifolds have a well-defined rank, obtaining a rank-based classification. Furthermore, we prove a splitting theorem for these manifolds assuming the integrability of one of the almost product structures. Finally, we show that the vertical distribution is a minimum of the corrected energy.