The break-in happened in the Mill Hill of Blackburn area on Sunday, June 26 whilst an the elderly homeowner was out watching his local cricket team.
The offenders smashed windows with bricks to gain entry and then rifled through the man's personal belongings.
A plasma television was taken and later found dumped in a nearby canal.
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Local residents have rallied around the pensioner helping repair the damaged windows and replacing his television.
Police say officers gathered CCTV and other evidence in order to identify the youths.
The three teenagers, who have not been named by police, are due to appear at Blackburn Magistrates’ Court.
A police spokesperson said: “Local residents have supported the male during this difficult time by assisting with the damaged windows and replacing his television.
“The teenagers will be appearing at Blackburn Magistrates Court in due course.”