Squid Game Season 3 Ending Explained: Who Wins, Who Dies, and What It All Means

Gi-hun clutching Jun-hee’s baby on the Sky Squid Game tower in Squid Game Season 3 finale.

Netflix’s Squid Game wrapped up its explosive third season with an emotional, high-stakes finale that left fans stunned. The winner wasn’t a veteran competitor or villain—it was Player 222: Jun-hee’s baby, a symbol of hope for future generations. The price? Nearly every major character met a tragic end, including protagonist Gi-hun, who sacrificed his life in a final act of redemption.


Who Wins Squid Game?

Player 222 Emerges as the Last Standing

In the last game—Sky Squid Game—players battled across towers of death. With chaos and betrayal at every turn, only Gi-hun, Myung-gi, and the baby remained. Myung-gi, driven by greed, tried to eliminate his own child to win. In a final showdown, Gi-hun saved the baby, but with a twist: he sacrificed himself to secure her victory, refusing to press the button that would kill the infant.

“The baby represents the future. Gi-hun rediscovered his humanity in protecting her,” said creator Hwang Dong-hyuk.


What Happened to Gi-hun?

A Hero’s Final Choice

Gi-hun could’ve claimed victory, but chose instead to press the button that would take his life and crown the baby champion. His sacrifice marked the emotional peak of Squid Game, reflecting his growth from a broken man into a selfless protector.


What Happened to Jun-hee and Myung-gi?

  • Jun-hee died sacrificing herself for her baby, stepping off the platform to stop Gi-hun from saving her.

  • Myung-gi died from his own ambition—his death during an unofficial round rendered it meaningless in the game's rules.


What Does the Ending Mean?

Hope in Darkness

From Front Man’s rare act of kindness—saving the baby and delivering the prize money—to a glimpse of Sae-byeok’s brother reuniting with family, Season 3’s ending offers a powerful message: redemption, sacrifice, and hope still matter.


Final Verdict: A Fitting End to the Franchise

Hwang Dong-hyuk confirmed: Season 3 is the final chapter. With Gi-hun’s story complete, and the baby symbolizing a new beginning, Squid Game closes with the sobering truth that while the game ends, the struggle for humanity continues.

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