This paper proposes a new parameterized enhanced shift-splitting (PESS) preconditioner to solve the three-by-three block saddle point problem (SPP). Additionally, we introduce a local PESS (LPESS) preconditioner by relaxing the PESS preconditioner. Necessary and sufficient criteria are established for the convergence of the proposed PESS iterative process for any random initial guess. Furthermore, we meticulously investigate the spectral bounds of the PESS and LPESS preconditioned matrices. Moreover, empirical investigations have been performed for the sensitivity analysis of the proposed PESS preconditioner, which unveils its robustness. Numerical experiments are carried out to demonstrate the enhanced efficiency and robustness of the proposed PESS and LPESS preconditioners compared to the existing block diagonal and shift-splitting preconditioners.
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