Purpose: The aim of this study was to assess functional and esthetic satisfaction plus evaluate changes in oral health-related quality of life (OHRQoL) using the Oral Health Impact Profile (OHIP-14) after insertion of a metal-ceramic (MC-FDP) or a veneered zirconia all-ceramic (AC-FDP) posterior three-unit fixed dental prosthesis (FDP). Additionally, patients' and professionals' esthetic evaluations were compared. Materials and Methods: A convenience sample of 34 patients was randomized to receive a MC-FDP (n = 17) or an AC-FDP (n = 17). Patients were assessed using the OHIP-14 and also answered a questionnaire regarding satisfaction with function and esthetics using visual analog scales (VAS) before treatment and after 2 weeks, after 3 months, and after 1, 2, and 3 years. A fully dentate control group (n = 20) was also assessed using the OHIP-14. The operator and another observer evaluated the esthetics of the FDPs using VAS. Results: The patients assessed the two FDP types similarly for all parameters. In contrast, there was a statistically significant difference in OHIP-14 results between the treated patients and the control group before treatment. After treatment, a statistically significant improvement in OHIP-14 was observed at all examinations. Patients were highly satisfied with the function and esthetics of the FDPs. The overall satisfaction with esthetics was statistically significantly higher among the patients than among the professionals at three out of five examinations. Conclusion: The patients experienced improved OHRQoL and increased satisfaction with function and esthetics after receiving a posterior three-unit FDP. No important differences were observed between the two types of FDPs when evaluated by the patient or the professionals.