We discuss renormalization of the nonrelativistic three-body problem with s
hort-range forces. The problem becomes nonperturbative at momenta of the or
der of the inverse of the two-body scattering length, and an infinite numbe
r of graphs must be summed. This summation leads to a cutoff dependence tha
t does not appear in any order in perturbation theory. We argue that this c
utoff dependence can be absorbed in a single three-body counterterm and com
pute the running of the three-body force with the cutoff. We comment on the
relevance of this result for the effective field theory program in nuclear
and molecular physics. [S0031-9007(98)08276-3].