  We study local superspace contributions to low-energy effective action in
general chiral three-dimensional superfield model. The effective Kahler and
chiral potentials are computed in explicit form up to the two-loop order. In
accordance with the non-renormalization theorem, the ultraviolet divergences
appear only in the full superspace while the effective chiral potential
receives only finite quantum contributions in the massless case. As an
application, the two-loop effective scalar potential is found for the
three-dimensional N=2 supersymmetric Wess-Zumino model.
