Answer
$9y^2-\dfrac{1}{9}$
Work Step by Step
Using $(a+b)(a-b)=a^2-b^2$ or the special product of the sum and difference of like terms, the product of the given expression, $
\left( 3y+\dfrac{1}{3} \right)\left( 3y-\dfrac{1}{3} \right)
,$ is
\begin{array}{l}\require{cancel}
3y(3y)-\dfrac{1}{3}\left( \dfrac{1}{3} \right)
\\\\=
9y^2-\dfrac{1}{9}
.\end{array}