Squid Game Season 3 Ending Breakdown: Does Player 456 Die & Who Won It All?
After a torturous wait, the squid game season 3 has been released. Netflix’s global phenomenon concluded its three-season saga on June 27, 2025, and the Squid Game Season 3 ending delivered on every promise of a “dark and bleak” finale, a vision foretold by creator Hwang Dong-hyuk himself.1
The final six episodes brought the story of Seong Gi-hun to a close in a manner that was as devastating as it was profound, leaving audiences to grapple with gut-wrenching character fates, a shocking new winner, and a final scene that redefines the entire series. This definitive breakdown will unravel every shocking twist and analyze its thematic weight, connecting the brutal on-screen action to the creator’s unflinching commentary on humanity, capitalism, and despair. We will answer every burning question fans are asking:
Does Player 456 die? Who won Squid Game Season 3? And what does the stunning cameo from Cate Blanchett mean for the future of this universe? The game is over, and the results are in.
? The Ending Shocker Explained
The central, haunting question that has dominated online discussion is finally answered: Does Player 456 die in Season 3? The answer is a definitive and tragic yes. Seong Gi-hun, Player 456, meets his end in the series finale, but his death is not a simple elimination; it is a complex, harrowing, and ultimately redemptive act that serves as the thematic core of the entire season.
The season opens with Player 456 as a broken man. The failed rebellion at the end of Season 2, which culminated in the Front Man (Lee Byung-hun) murdering his closest ally, Jung-bae, has shattered his spirit.2 This is not the determined hero who vowed revenge at the end of Season 1; this is a man consumed by grief and quiet rage, a state that makes him dangerously unpredictable. Creator Hwang Dong-hyuk’s stated intention to explore “the lowest bottom of human beings” is immediately realized through Gi-hun’s actions.2 In the first game of the season, a deadly version of “Hide-and-Seek,” players are split into taggers and hiders. Gi-hun, assigned as a tagger, channels his fury into a singular, vengeful mission: to hunt down his former ally, Player 388, Kang Dae-ho (Kang Ha-neul). Blaming Dae-ho for his cowardice and betrayal during the rebellion, Gi-hun corners him. After Dae-ho confesses his fear, Gi-hun, in a chilling display of his broken morality, strangles him to death.4 This act solidifies the Front Man’s cynical worldview—that any person, no matter how good, can be pushed to become a monster.
However, Gi-hun’s path back from this moral abyss begins with a new purpose. After witnessing the selfless sacrifices of both Jang Geum-ja (Player 149) and Kim Jun-hee (Player 222 Squid Game), he takes on the solemn responsibility of protecting Jun-hee’s newborn baby.5 This promise becomes his anchor, pulling him back toward the man he used to be. The ultimate test of this rediscovered humanity comes in the final game, “Sky Squid Game,” a terrifying challenge played on towering structures high above the ground. In a direct confrontation with the baby’s father,
Myung Gi, Gi-hun is left with an impossible choice: kill the infant to survive or sacrifice himself.
In this final moment, the question of “Does Player 456 die?” is answered. He chooses sacrifice. Looking directly into the camera, a final act of defiance against the VIPs and the system they represent, he speaks his last words: “We are not horses. We are humans. Humans are…”.6 He leaves the thought deliberately unfinished before letting himself fall backward to his death, ensuring the baby becomes the sole winner. His death is not just an end; it is a powerful, final statement. It is a refutation of the man he became when he killed Dae-ho and a defiant answer to the Front Man’s nihilism, proving that even after touching the very bottom of human nature, the choice to preserve humanity remains.
What Happened to Player 222? Does 222 Die in Squid Game Season 3?
The tragic arc of Player 222 Squid Game, Kim Jun-hee (played by Jo Yu-ri), is one of the most heartbreaking stories in the final season. Fans anxiously asked, Does 222 die in Squid Game Season 3?, and the series provided a gut-wrenching answer. Jun-hee enters the games pregnant with the child of Myung Gi (Im Si-wan), a complicated relationship that adds layers of tension to her struggle.10 Her story is a poignant exploration of motherhood and sacrifice under the most extreme duress.
In Episode 2, “The Starry Night,” Jun-hee gives birth inside the game’s labyrinth during the “Hide-and-Seek” challenge. It’s a moment of profound vulnerability, where she is protected by the elderly Geum-ja (Player 149) and the fiercely loyal Player 120 Squid Game, Cho Hyun-ju.5 This brief instance of hope—the creation of new life in a place defined by death—is immediately overshadowed by the game’s relentless cruelty.
The question “Does 222 die in Squid Game Season 3?” is answered in Episode 5, during the “Jump Rope” game. The players must cross a high bridge by jumping over a swinging rope. Jun-hee, who sprained her ankle during the previous game, knows she cannot make the crossing. Realizing that Gi-hun’s attempt to save her would likely result in both of their deaths, she makes the ultimate sacrifice. After handing her baby to Gi-hun and watching him cross safely, she steps off the platform to her death, ensuring her child’s protector can continue.6
Her sacrifice, however, is perversely twisted by the game’s masters. In a display of ultimate dehumanization, the VIPs vote to make her newborn baby the new Player 222 Squid Game.5 This act is central to the season’s critique of capitalism. The miracle of birth is instantly commodified, assigned a number, and turned into another betting chip for the wealthy elite. The system doesn’t just ignore life’s sanctity; it actively absorbs and monetizes it, proving Hwang Dong-hyuk’s assertion that this story, as a mirror to our world, could not have a simple happy ending.1
Who Won Squid Game Season 3? Final Scene, Twists & The Ultimate Survivor
After three seasons of bloodshed, betrayal, and brutal competition, the answer to the question Who won Squid Game Season 3? is as shocking as it is thematically resonant. The ultimate winner of the 45.6 billion won is the most helpless and innocent of all the contestants: the newborn baby, the new Player 222.11
The baby’s victory is secured by default. It is the direct result of the final, selfless act of Player 456, who sacrifices his own life to ensure the infant is the sole survivor of the final game.6 In the immediate aftermath, the Front Man himself descends into the arena to collect the infant winner, a chilling image of the system’s highest authority taking possession of its most vulnerable product.9 The epilogue reveals the baby’s ultimate fate: the Front Man, in a rare moment of what might be perceived as conscience, leaves the child and a golden credit card containing the prize money in the care of his estranged brother, Detective Hwang Jun-ho.9
This outcome, however, is the antithesis of a happy ending. A baby winning the Squid Game is perhaps the bleakest conclusion imaginable and the series’ most powerful indictment of the systems it critiques. The winner is a participant who did not choose to play, did not compete, and did not consent. Her prize is a fortune built on the blood and trauma of her parents and her protector, Gi-hun. This victory is not a triumph; it is the embodiment of inherited trauma. The baby is born directly into a system of violent wealth, her entire existence defined by the corrupt game that orphaned her. This outcome perfectly aligns with creator Hwang Dong-hyuk’s warning that the finale might leave viewers “devastated” because some stories, in holding up a mirror to reality, simply “can’t have a happy ending”.1 The answer to
Who won Squid Game Season 3? is a tragedy, symbolizing a new generation irrevocably burdened by the destructive greed of the last.
Cate Blanchett in Squid Game Season 3? Her Role Explained
In the final, stunning moments of the series, a major Hollywood star makes an unannounced appearance, confirming the global reach of the games. Yes, the rumors were true in their essence, but the star was not Leonardo DiCaprio. The Squid Game Season 3 ending features a shocking cameo from two-time Oscar winner Cate Blanchett.9
Her appearance occurs in the epilogue. The Front Man is being driven through Los Angeles after delivering Gi-hun’s belongings and prize money to his daughter. He stops his car and rolls down the window to the familiar sound of a slap. In a nearby alley, he sees a woman, impeccably dressed, playing a game of ddakji with a desperate-looking man. That woman is Cate Blanchett.16 She is the new American Recruiter. As she plays the game, she looks up and her eyes meet the Front Man’s. They share a knowing, almost challenging look before he silently rolls up his window and drives away.7
This cameo is far more than a simple celebrity appearance; it is a thematically devastating final twist that sets up the rumored American spin-off, reportedly to be helmed by director David Fincher.12 The presence of
Cate Blanchett serves as the series’ cynical gut-punch finale. It reveals that Gi-hun’s profound sacrifice, while a personal moral victory, was systemically futile. He succeeded in his mission to end the games on that specific island—which is shown to self-destruct 9—but he did not end
the game. The organization is a global franchise, already operational and recruiting in the heart of the Western world.
The appearance of a star of Cate Blanchett‘s caliber signifies the insidious, international nature of the exploitation at the heart of the series. Gi-hun’s fight was against a single battlefront, but the war is worldwide. This final scene proves the Front Man’s cynical point: the system is bigger than any one person or any single act of rebellion. Gi-hun’s moral triumph is tragically rendered impotent in the face of a relentless, global capitalist machine. It is the ultimate “bleak” ending that Hwang Dong-hyuk promised, leaving the audience with the chilling realization that the game never truly ends.
Squid Game Season 3 Cast: Old Faces, New Players & Myung Gi’s Scene-Stealing Arc
The final season brought together a powerful ensemble, making the Squid Game Season 3 cast a blend of beloved returning actors and compelling new faces. Lee Jung-jae as Player 456, Lee Byung-hun as the Front Man, and Wi Ha-joon as Detective Jun-ho all reprised their iconic roles. They were joined by a host of new players who left an indelible mark, including Park Sung-hoon as the fan-favorite Player 120 Squid Game, Jo Yu-ri as the tragic Player 222 Squid Game, and, most notably, Im Si-wan as Lee Myung-gi.5
Of all the new additions to the Squid Game Season 3 cast, it is Myung Gi (Player 333) who embodies the season’s darkest themes. Creator Hwang Dong-hyuk specifically highlighted that Myung Gi undergoes the “most dramatic character arc development”.2 He begins as a seemingly conflicted father-to-be, but his journey is a rapid descent into pure, transactional villainy. He is the character who fully succumbs to the game’s brutal logic. His list of atrocities is long and unforgivable: he callously murders the heroic
Player 120 Squid Game just as she is about to secure an escape for her friends.20 He betrays his allies without hesitation to increase the prize pool. His moral decay culminates in the final game, where he attempts to kill his own newborn child to secure the prize money for himself.7
Myung Gi serves as the perfect dark mirror to Gi-hun. Both are fathers faced with impossible choices within the arena. But where Gi-hun ultimately chooses to sacrifice himself for a child, Myung Gi chooses to sacrifice his own child for himself. He represents the complete erosion of humanity, the final product of the Front Man’s cynical philosophy. His death at Gi-hun’s hands during their final confrontation is more than just the elimination of a rival; it is a symbolic victory of empathy over greed, and a tragic portrait of a man who lost any semblance of the humanity he once had.
How Many Episodes Are in Squid Game Season 3? Full List + Plot Arcs
For fans planning their binge-watch, a key question is: How many episodes are in Squid Game Season 3? The definitive answer is six episodes.12 This makes the final installment the shortest season of the series, following the nine episodes of Season 1 and the seven episodes of Season 2.22 All six episodes were released at once on Netflix on June 27, 2025, allowing viewers to experience the entire devastating conclusion in one sitting.5
The condensed episode count creates a relentless pace, with each hour packed with significant plot developments and brutal games. Knowing how many episodes of Squid Game Season 3 there are helps frame the narrative’s rapid progression from post-rebellion despair to the final, sacrificial climax. To provide a clear overview of this dense season, here is a complete guide to the plot of each episode.
Table 1: Squid Game Season 3 Episode Guide
| Episode No. | Title | Key Plot Developments |
| 17 (S3E1) | “Keys and Knives” | The season opens in the aftermath of the failed rebellion. A vote to end the games fails. The deadly “Hide-and-Seek” game begins, with players assigned as armed taggers or unarmed hiders. Gi-hun, blaming Dae-ho for the rebellion’s failure, becomes vengeful. |
| 18 (S3E2) | “The Starry Night” | In the labyrinth, Player 222 (Jun-hee) gives birth, protected by Player 120 and Player 149. Myung Gi murders Player 120 moments after she finds an exit. Gi-hun murders Dae-ho. Geum-ja (Player 149) is forced to kill her own son (Player 007) to protect Jun-hee. |
| 19 (S3E3) | “It’s Not Your Fault” | Devastated by her actions, Geum-ja commits suicide after making Gi-hun promise to protect Jun-hee and the baby. The next game, “Jump Rope” over a high bridge, is announced. |
| 20 (S3E4) | “222” | The “Jump Rope” game concludes with the death of Jun-hee, who sacrifices herself. The VIPs vote to make her newborn the new Player 222. The Front Man summons Gi-hun and reveals his identity, offering him a deal to kill the remaining players. |
| 21 (S3E5) | “○△□” | The final game, “Sky Squid Game,” begins on towering structures. Myung Gi and Gi-hun form a temporary, uneasy alliance to eliminate the other players, but Myung Gi‘s selfish intentions become clear. |
| 22 (S3E6) | “Humans Are…” | The final confrontation between Gi-hun and Myung Gi. Myung Gi falls to his death. Gi-hun sacrifices himself to save the baby, who becomes the winner. The island is destroyed. The epilogue shows Jun-ho with the baby and the Cate Blanchett cameo in LA. |
This breakdown of how many episodes of Squid Game Season 3 there are and what happens in each provides a complete roadmap to the show’s intense and emotional final act.
Watch on Netflix Official
URL: https://www.netflix.com/tudum/squid-game-season-3
Player 120 Squid Game: The Quiet MVP of Season 3?
While the season focused heavily on the arcs of Player 456 and Myung Gi, one of the most impactful and tragic figures was Player 120 Squid Game, Cho Hyun-ju. Played by Park Sung-hoon, the fan-favorite trans character returned from Season 2 as a symbol of strength, competence, and fierce loyalty.25 Her brief but heroic role in Season 3 cemented her status as a standout character whose death resonated deeply with audiences.
In the early episodes, Player 120 Squid Game quickly establishes her protective instincts, forming an alliance with the pregnant Player 222 and the elderly Player 149 during the terrifying “Hide-and-Seek” game.5 With her background as a former sergeant, she is a natural leader, guiding her vulnerable allies through the deadly labyrinth. Her finest moment becomes her last. After successfully discovering the exit door, she makes the selfless decision to go back for her friends rather than save herself. It is in this act of pure altruism that she is tragically killed, stabbed in the back by
Myung Gi, who sees her as an obstacle to his own survival and greed.5
The death of Player 120 Squid Game is a pivotal turning point in the season. It serves multiple crucial narrative functions. First, it firmly establishes Myung Gi as the season’s true human villain, a character willing to punish goodness for personal gain. Second, it delivers a devastating emotional blow to the audience, eliminating a character who represented hope and resilience. Finally, and most importantly, her death underscores one of the show’s cruelest themes: in the world of Squid Game, humanity and selflessness are often punished, not rewarded. The martyrdom of Player 120 Squid Game raises the stakes for Gi-hun’s own journey as a protector, foreshadowing the immense cost of choosing to protect the innocent in a world designed to crush them.
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Final Death List in Squid Game Season 3: Who Lives and Who Dies?
With its reputation for a high body count, the final season of Squid Game was no exception. The fates of beloved and despised characters were sealed in a series of brutal games and heart-wrenching sacrifices. For viewers seeking a clear ledger of the final outcomes, this definitive list clarifies who lives and who dies, including the answers to the urgent questions: Does Player 456 die? and Does 222 die in Squid Game Season 3?
As the following table illustrates, survival was a rare commodity. The season’s narrative reinforced that no one, not even the protagonist, was safe from the game’s fatal logic. The list of the deceased is long, and each death contributes to the show’s overarching themes of despair, sacrifice, and the corrupting influence of the competition.
Table 2: Final Status of Key Players in Squid Game Season 3
| Player # | Character Name | Final Status & Cause of Death |
| Player 456 | Seong Gi-hun | Deceased. Sacrificed himself by falling from the final platform to ensure the baby would win the game. |
| Player 222 Squid Game | Kim Jun-hee | Deceased. Died by suicide, stepping off the platform during the “Jump Rope” game to save Gi-hun. |
| Player 222 (Baby) | (Unnamed) | Winner. Survived the games and was declared the winner by default. |
| Player 333 | Lee Myung-gi | Deceased. Fell to his death from the final platform during a fight with Gi-hun. |
| Player 120 Squid Game | Cho Hyun-ju | Deceased. Stabbed in the back by Myung-gi while trying to save her allies. |
| Player 388 | Kang Dae-ho | Deceased. Strangled to death by a vengeful Gi-hun during the “Hide-and-Seek” game. |
| Player 149 | Jang Geum-ja | Deceased. Died by suicide after being forced to kill her own son to protect Player 222. |
| Player 007 | Park Yong-sik | Deceased. Stabbed by his mother, Geum-ja, when he attempted to kill Player 222. |
| N/A | Hwang In-ho (Front Man) | Survived. Escaped the island’s destruction and was last seen in Los Angeles. |
| N/A | Hwang Jun-ho (Detective) | Survived. Reached the island but failed to stop his brother; was later entrusted with the winning baby. |
This final tally confirms the devastating nature of the Squid Game Season 3 ending. The fact that the answer to “Does Player 456 die?” is yes, alongside the confirmation that the original Player 222 Squid Game also perishes, underscores the season’s bleak message that in this world, even heroes do not get to walk away.
The Squid Game Season 3 Ending Leaves Us With One Question: What’s Next?
The Squid Game Season 3 ending was a conclusive, devastating finale to the story of Seong Gi-hun. Over the course of how many episodes are in Squid Game Season 3—a tight, brutal six—we witnessed the full arc of Player 456: his fall into darkness, his climb back toward the light, and his ultimate, redemptive death. We learned the tragic fate of Player 222 Squid Game and the shocking answer to who won Squid Game Season 3: her infant child, a winner in name only. And just when it seemed the cycle of violence was broken, the shocking Cate Blanchett cameo revealed the horrifying truth: the game is global, and it is eternal.
Gi-hun’s story is a profound tragedy. He won a personal, moral victory, proving that one person can choose humanity over survival. But his sacrifice was ultimately a systemic failure. He could not stop the machine, only his own participation in it. The series ends on its bleakest note, suggesting that as long as the vast inequalities that fuel the games exist, there will always be more players, more recruiters, and more arenas.
With the Korean chapter closed and the American games just beginning, Gi-hun’s final sacrifice proved one man can choose humanity. But the final scene asks a much darker question: in a world built on greed, does it even matter?
