Hopefully, it won't happen. If it did, it would be nuclear and end all life on Earth.
Probably won't happen in the way that you are thinking. There aren't enough powerful nations that hate each other. Understand, when the first World War broke out the Earth was full of super-powerful empires that hated each others' guts. The British, Germans, Russians, and Japanese were all very strong empires that hated each other and were willing to fight over just about anything. But nowadays only a few nations can really claim to be a "superpower". America is arguably the strongest nation on earth, followed by nations like China, modern-Japan(which is a very different Japan than WW2 Japan), India and the EU. These nations have no interest in fighting each other. If a global conflict were to take place it would be with puppet nations.
Big players like America, Britain, and Russia would find ways of hurting each other without having to fight. Instead they'd use smaller nations or peoples like Israel, Palestine, the Kurds, or other similarly desperate societies to do their bidding for them. "WW3" would consist of large nations forcing smaller nations to fight other smaller nations that are allied with their stronger enemies. War is no longer the huge endeavors that they were in the 1940s. War today is mostly a tool to get what a larger country wants.