1) Background: When performing mandibular third molar (M3M) surgical removal, there was a possible risk of nerve injury. The main reason for the complications was the proximity between the inferior alveolar nerve (IAN) and the root of the M3M. Therefore, this research recognized the importance of the pre-operative procedure of assessing the relationship between the nerve and the M3M before the operation. 2) Objective: This study aimed to determine the relationship between angulation, class, and position of M3M and the nerve proximity, and study the position and distances between M3M and the inferior alveolar nerve canal (IANC). 3) Materials and methods: The panoramic and CBCT images of 41 patients with 61 M3M from the database of the College of Dental Medicine, Rangsit University were examined in this study. Panoramic images were assessed using Planmeca Romexis® dental imaging software to measure angulation, class, position, and nerve proximity. The samples with nerve proximity were then further evaluated by CBCT images to observe nerve position and measure nerve distance. The results were analyzed for relationship level using binary logistic regression analysis. 4) Result: The horizontal impaction was most likely to have nerve proximity. This result was not statistically significant (p >0.05). While nerve proximity was observed in vertical/distoangular impaction 0.1282 times lesser than mesioangulation and this result was statistically significant (p=0.018). Class II and Position B impaction were most likely to have nerve proximity. These results were not statistically significant (p>0.05). The lingual position of IANC was 100% nerve contact in nerve proximity cases. In the nerve proximity cases, the distance between the root and IANC ranged from 0 to 2.53 mm. 5) Conclusions: Vertical/distoangular impaction had the least chance of IAN proximity compared to other variables, while the horizontal impaction had the most chance of proximity. The nerve contact is most frequently observed in the lingual position.