An easy to realize L3 photonic crystal nanocavity that exhibits ultrahigh quality factor (Q-factor), ultrasmall mode volume, and a large Q/Vmode is proposed. A resonant cavity mode at 910.625 nm wavelength with Q-factor 4.93×105, mode volume 0.802 (λ/n)3, and Q/Vmode6.15×105 (λ/n)−3 is reported. The proposed design improves Q-factor by a factor of 84 and Q/Vmode by a factor of 70 in comparison to unoptimized L3 photonic crystal nanocavity. Such a high-quality nanocavity can be used to realize a strongly interacting quantum dot-nanocavity coupled system.