Michael Wenzel, 21, Brandon Spencer Heintz, 23, and Robert Lee Benac, 28, were charged with numerous criminal offences, ABC reported.
All three face felony charges of aggravated animal cruelty, the channel said, which means they could face up to five years in jail or a fine of up to $10,000 (£7,500) or both, according to lawyer Andrew Stine.
Footage of the flailing shark being dragged at high speed by the speedboat as three men looked on went viral in July.
Florida Fish and Wildlife Conservation Commission spokesman Rob Klepper said at the time the men had been identified but their names would not be released until enquiries had been completed.
In the video, the shark was seen twisting in the air and slamming against the water as it visibly struggled in the boat's wake.
One of the men said the shark looked "almost dead", while laughter could be heard in the background.
Three of the occupants of the small boat were visible, but the person filming was not.
The video was published online by Miami sport fisherman Mark Quartiano, who said he decided to release it so the fishermen could be identified.
Florida governor Rick Scott released a statement following the announcement of criminal charges by Hillsborough County State Attorney's Office.
He said: "I was outraged by the sickening video of a shark being horribly abused earlier this year.
"Florida has no tolerance for this mistreatment, and I am proud of the hard work of FWC law enforcement during this investigation to hold these individuals accountable for their horrific actions."
The wildlife's commission chairman Bo Rivard told ABC's Florida affiliate WFTS: "As we've said since this video and other images came to light, these actions have no place in Florida, where we treasure and conserve our natural resources for everyone."
WFTS contacted Michael Wenzel for comment but were unable to get a response.