The Florida Fish and Wildlife Conservation Commission and Hillsborough County State Attorney's office announced the charges.
The FWC's four month long investigation into the video of the shark being dragged behind a boat at a high speed confirmed numerous criminal violations.
The suspects are 23-year-old Spencer Heintz of Palmetto, Florida, 28-year-old Robert Lee Benac of Bradenton, Florida, and 21-year-old Michael Wenzel of Plametto, Florida.
They are all charged with two felony counts of aggravated animal cruelty.
The suspects turned themselves in on Tuesday.
Wenzel and Heintz have bonded out, but Benac remains in the Hillsborough lockup.