SQUID GAME Season 3 Spoilers: Ending Explained And Whether The Series Has A Post-Credits Scene

SQUID GAME Season 3 Spoilers: Ending Explained And Whether The Series Has A Post-Credits Scene

Squid Game season 3 is now streaming on Netflix, but how does Player #456's story conclude, and what does it mean for the franchise moving forward after creator Hwang Dong-hyuk confirmed this is the end?

By JoshWilding - Jun 27, 2025 06:06 AM EST
Filed Under: Television

The third and final season of Squid Game has arrived on Netflix, and it makes for bleak viewing. We weren't necessarily expecting a happy ending, but the South Korean hit wraps up on a thought-provoking, violent note that sets the stage for the future in a big way.

In this article, we're delving into how the final season plays out and the way it culminates with a must-see finale we guarantee will leave you reeling. The stage is also set for the franchise's future, courtesy of a jaw-dropping cameo. Needless to say, we're getting into spoilers here!

Squid Game season 3 holds nothing back, and in the wake of his failed rebellion, Gi-hun is once again forced to compete. "Hide and Seek" features the deaths of Dae-ho (#388), Hyun-ju (#120), the Shaman (#044), and Yong-sik (#007), while Jun-hee (#222) gives birth. Young-sik's mother, Geum-ja (#149), dies by suicide after she was forced to kill her son during the game. 

From there, we have Jump Rope and say goodbye to Nam-gyu (#124). Gi-hun and Myung-gi (#333) live, but after Jun-hee's death, the Front Man decides that her baby will take her place as Player #222. 

The games continue, and Gi-hun is once again brought before the Front Man. He finally reveals his identity and offers his "friend" a knife which can be used to kill the remaining players, saving himself and the baby. It's revealed that the Front Man was once given the same choice as a player and obliged. 

Gi-hun keeps the knife, but can't bring himself to murder the others. "Squid Game in the Sky" is the third game, and Myung-gi, the baby's father, teams up with Gi-hun. When all is said and done, only he, Gi-hun, and the baby are left standing (the rest are pushed or jump from the ledges).

Myung-gi plans to kill his own child to win the games, and a fight ensues with Gi-hun, which ends with him falling to his death. However, neither of them pushed the button to start the round, meaning only Gi-hun or the baby can survive, or both will die. Setting the child down, he repeats his line from season 1 that players aren't horses and says, "Humans are..." before letting himself fall to his death. 

The baby, Player #222, is named the winner. While this is happening, Jun-ho has found the island thanks to an assist from the escaped Player #246, and is left to watch helplessly as his brother leaves with the baby and ignores his cries. The Front Man initiates a self-destruct sequence, destroying the island and making it so that Gi-hun is the last to die there. The games are done. 

Or not. There are some hints of a happy ending; six months later, we learn that Guard 011 is alive and well in China, Player #246's daughter has recovered, and Sae-byeok's mother reunites with her son at the airport. Gi-hun's money, however, has disappeared. 

The Front Man leaves the baby with Jun-ho and is revealed to have taken Gi-hun's money to his daughter (which is presented to her, along with his bloody #456 jacket). In Los Angeles, the Front Man looks out of his car window and sees a recruiter playing ddakji with a man on the street. The recruiter is Cate Blanchett, and after they share a look, it's clear the games are far from over and are likely taking place across the globe. 

There's no post-credits scene, but with this ending, the stage has been set for David Fincher's planned American Squid Game series. Remember, creator Hwang Dong-hyuk has confirmed that, outside of potential spin-offs, this is the end for the main Squid Game series.

Squid Game season 3 is now streaming on Netflix. 

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