diff --git a/HISTORY.rst b/HISTORY.rst
index 14258008..0b7f21ca 100644
--- a/HISTORY.rst
+++ b/HISTORY.rst
@@ -38,6 +38,7 @@ PlatformIO Core 4.0
 * Fixed an issue with project generator when ``src_build_flags`` were not respected (`issue #3137 <https://github.com/platformio/platformio-core/issues/3137>`_)
 * Fixed an issue when booleans in "platformio.ini" are not parsed properly (`issue #3022 <https://github.com/platformio/platformio-core/issues/3022>`_)
 * Fixed an issue with invalid encoding when generating project for Visual Studio (`issue #3183 <https://github.com/platformio/platformio-core/issues/3183>`_)
+* Fixed an issue when Project Config Parser does not remove in-line comments when Python 3 is used (`issue #3213 <https://github.com/platformio/platformio-core/issues/3213>`_)
 
 4.0.3 (2019-08-30)
 ~~~~~~~~~~~~~~~~~~
diff --git a/platformio/project/config.py b/platformio/project/config.py
index 73d5e087..763ff66f 100644
--- a/platformio/project/config.py
+++ b/platformio/project/config.py
@@ -21,7 +21,7 @@ from hashlib import sha1
 import click
 
 from platformio import exception, fs
-from platformio.compat import WINDOWS, hashlib_encode_data
+from platformio.compat import PY2, WINDOWS, hashlib_encode_data
 from platformio.project.options import ProjectOptions
 
 try:
@@ -84,7 +84,11 @@ class ProjectConfigBase(object):
         self.expand_interpolations = expand_interpolations
         self.warnings = []
         self._parsed = []
-        self._parser = ConfigParser.ConfigParser()
+        self._parser = (
+            ConfigParser.ConfigParser()
+            if PY2
+            else ConfigParser.ConfigParser(inline_comment_prefixes=("#", ";"))
+        )
         if path and os.path.isfile(path):
             self.read(path, parse_extra)
 
diff --git a/tests/test_projectconf.py b/tests/test_projectconf.py
index c95584e9..b118a2ef 100644
--- a/tests/test_projectconf.py
+++ b/tests/test_projectconf.py
@@ -28,9 +28,9 @@ extra_configs =
 
 # global options per [env:*]
 [env]
-monitor_speed = 115200
+monitor_speed = 115200  ; inline comment
 lib_deps =
-    Lib1
+    Lib1 ; inline comment in multi-line value
     Lib2
 lib_ignore = ${custom.lib_ignore}