Aldebaran III was the inhabited third planet in the Aldebaran system. This planet was located near the Ficus sector. (TOS: "The Deadly Years"; TNG: "Up The Long Ladder", okudagram)
A few years prior to 2267, Janet and Theodore Wallace performed experiments using carbohydrate compounds to slow the aging of plants at the Federation outpost on this planet. (TOS: "The Deadly Years")
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"al-DEB-uh-ron" was the pronunciation for this planet's name from the script pronunciation guide for "Prophet Motive".
According to the Star Trek: Star Charts ("United Federation of Planets I"), in 2378, Aldebaran III (Alpha Tauri III) was listed as a Federation member.