Squid Game Season 3 Ending Explained

Squid Game Season 3 Ending Explained

Squid Game Season 3 took us on another wild, emotionally devastating ride but let’s be real, we wouldn’t have it any other way. The final episode was intense, heartbreaking, and left us asking: Is this really the end? Warning: Spoilers ahead!

Let’s break it all down what happened, what it means, and that unexpected final twist.


The Final Game: “Sky Squid Game”

The season ends with a brutal three-way showdown between:

  • Gi-hun (Player 456) – our OG hero
  • Myung-gi (Player 333) – the shady new player with nothing to lose
  • Jun-hee’s baby (Player 222) – yes, a literal infant is in the final

Sounds insane? It is. But in true Squid Game fashion, it’s twistedly symbolic.

During the final moments:

  • Gi-hun saves the baby by sacrificing himself.
  • He pushes Myung-gi off the platform before the game even officially starts, realizing someone still has to die to initiate it.
  • Instead of killing the baby or trying to win, Gi-hun places the infant on the platform and jumps to his death.

His final words?

“We are not horses. We are humans.”

Chills. Absolute chills.


The Baby Wins… But At What Cost?

Yep, the baby becomes the actual winner of Squid Game Korea.
Gi-hun’s self-sacrifice is both tragic and powerful a final stand against the cruelty of the games.

It’s not about money anymore.
It’s about proving that humanity still exists in a system built on inhumanity.


What Happens After?

squid game final season

The Island Collapses (Literally)

  • No-eul storms HQ to find her daughter — and narrowly escapes as the whole island starts falling apart.
  • Jun-ho tries to stop it, but he’s too late. The game masters are already one step ahead.

Where Everyone Ends Up:

  • Gyeong-seok survives and is seen happily reunited with his daughter.
  • No-eul heads off to China, chasing a faint hope her child is alive.
  • Jun-ho discovers a bank card — with ₩45.6 billion — linked to the baby (Player 222).
  • And In-ho? He shows up in Los Angeles, handing Gi-hun’s daughter a jacket… and a fat envelope of cash.

Closure? Sort of. Peace? Not quite.


That Ending Scene… & Cate Blanchett?!

squid game s3 Ending Scene

In one final twist, we’re shown a new recruiter in LA.
She plays ddakji with a desperate man and drops this line:

“As you wish.”

Zoom out.
It’s Cate Blanchett.

Yes. That Cate Blanchett.
And she locks eyes with In-ho as he drives away.

This moment hints that the games are about to go global — and the next location? America.


What It All Means

  • Gi-hun’s death is a rejection of the system. A final act of humanity in a world that’s lost it.
  • The baby winning feels absurd — but it’s poetic. Innocence survives.
  • Cate Blanchett’s cameo all but confirms a U.S. version of Squid Game is coming.
  • The games aren’t over — they’ve just changed continents.

Will There Be Season 4?

Officially? No.
Creator Hwang Dong-hyuk confirmed Season 3 is the end of the Korean arc.
But with that teaser, we might be getting:

  • A U.S. spin-off
  • A possible prequel or anthology
  • More global “Squid Games” in different countries

In short — this story is far from done.


The Squid Game Season 3 finale wasn’t just shocking it was emotional, philosophical, and packed with commentary about survival, morality, and capitalism.

Gi-hun didn’t just die but he chose to break the game.
The question now is: can anyone else do the same?


Still recovering from the finale? Same. Drop your theories below and let’s cry (and speculate) together