According to the automaker, the air-bags may inflate with too much pressure in a crash, sending metal and plastic pieces flying. This could cause injury or even death.
Honda said there have been 20 accidents involving the defect, including two deaths in the U.S. in 2009.
The recall includes 273,000 vehicles in the U.S., some 27,000 in Canada, nearly 2,000 vehicles in Japan and another 2,000 in other countries. It involves Accords, Civics, Odysseys, Pilots, CR-Vs and other models manufactured in 2001 and 2002.
Honda has issued two previous recalls for the same problem. Honda spokesman Hajime Kaneko said the cause for the latest recall was the use of incorrect material in the chemical used to deploy air bags.
The initial cause of the recall was excessive moisture in the inflator propellant, which is part of what inflates the air bag.
Also included in the latest recall are 912 air-bag service parts sold for installation in vehicles for collision repair and other reasons, Honda said.
The Associated Press contributed to this report.