Drug-target interaction (DTI) prediction is of great significance for drug discovery and drug repurposing. With the accumulation of a large volume of valuable data, data-driven methods have been increasingly harnessed to predict DTIs, reducing costs across various dimensions. Therefore, this paper proposes a $\textbf{L}$arge $\textbf{L}$anguage $\textbf{M}$odel and $\textbf{M}$ulti-$\textbf{M}$odel data co-powered $\textbf{D}$rug $\textbf{T}$arget $\textbf{I}$nteraction prediction framework, named LLM$^3$-DTI. LLM$^3$-DTI constructs multi-modal data embedding to enhance DTI prediction performance. In this framework, the text semantic embeddings of drugs and targets are encoded by a domain-specific LLM. To effectively align and fuse multi-modal embedding. We propose the dual cross-attention mechanism and the TSFusion module. Finally, these multi-modal data are utilized for the DTI task through an output network. The experimental results indicate that LLM$^3$-DTI can proficiently identify validated DTIs, surpassing the performance of the models employed for comparison across diverse scenarios. Consequently, LLM$^3$-DTI is adept at fulfilling the task of DTI prediction with excellence. The data and code are available at https://github.com/chaser-gua/LLM3DTI.