The PS3 jailbreak mod-chip made the waves on the internet just yesterday and here we already have the how to step-by-step guide to help you jailbreak your console.

Disclaimer: The guide below is only for testing and educational purpose. You will be responsible for any possible damage caused.

Things you need

  • PS3 with Firmware 3.41 installed
  • A FAT32 formatted external USB storage with a copy of Backup Manager on it
  • PS3 Jailbreak Mod Chip (can be purchased here)

How to Jailbreak

Step 1: Power off your console completely and connect Jailbreak mod chip to it. Make sure no other device is connected as you jailbreak. Make sure your Blu-ray drive is empty

For the SLIM Model: You will also have to remove power chord before plugging in USB
For the FAT model: Switching the power off shall do.

Step 2: Press the ‘Power’ button on the console and then press the ‘Eject’ button. Notice how the two LED’s on PS Jailbreak USB turn on while the console is loading.

If the green LED lits up the jailbreak is working properly

If the red lits up it’s not working.

If you end up with a red LED, turn power off, remove power chord and repeat the procedure.

Step 3: Once the Jailbreak mod-chip loads, connect the USB with Backup Manager on it.

Step 4: Naviage to “Game Menu” and select the option “Install Package Files”. Select “manager.pkg” which will basically install Backup Manager for you

Step 5: Once the Back Up Manager is installed, select the Back Up Manager from game menu and press X button to run it.

Step 6: After you have opened the Back Up Manager, put in a DVD of the game and press “O”. You will be asked then whether to make a back up on the internal HDD or the external USB storage device.

Step 7: To load a previously created back up, insert any original game DVD in console then select the desired back up from the Back Up Manager and press X to play the selected game. You can also delete your previously created back up by pressing /\.

Step 8: You will automatically be redirected to the main menu where you can see the game installed and ready to be played.

Do not remove the mod chip while you play the game. It has to be connected at all the times while you are playing a game through back up.

[Source Elotrolado, via SegmentNext]

Update: Sony can detect the software ID used by the program used for jailbreaking. Hence, it can ban your device remotely. It is recommended not to use the hacked PS3 on PS network