We study the possibility of expressing the invariant QCD coupling function (i.e., the effective coupling constant) in an explicit analytic form in two- and three-loop approximations as well as in the case of the Pade-transformed β-function. Both the timelike and spacelike domains are investigated. Technical aspects of the Shirkov–Solovtsov analytic perturbation theory are considered. Explicit expressions for the two- and three-loop effective coupling functions in the timelike domain are obtained. In the last case, we apply a new method of expanding functions represented in an arbitrary loop order of perturbation theory in powers of the two-loop function. The comparison with numerical data in the infrared region shows that the obtained explicit expressions for the three-loop functions agree fully with the exact numerical results.