Squid Game Season 3 ending explained: Who beat death to win it all?

In a twist nobody saw coming, Squid Game crowns an unlikely — and unborn — champion, delivering a finale that’s both devastating and hopeful
Squid Game Season 3 ending explained: Who beat death to win it all?
Who wins Squid Game Season 3? X
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Season 3 of Squid Game ends not with a bang but a birth — quite literally. In a shocking, emotionally loaded finale, the Netflix juggernaut crowns its most unexpected winner yet: a newborn baby. As brutal as the games are this season, creator Hwang Dong-hyuk closes the series with a symbol of hope, as Jun-hee’s child emerges victorious while every other major player, including fan favourite Gi-hun (Lee Jung-jae), meets a grim fate.

Who wins Squid Game Season 3? 

Episode 6, titled Sky Squid Game, features a deadly final challenge across three towering structures shaped like a square, triangle, and circle. The twist? Deaths only count if a button is pressed to officially start the round. This seemingly small detail ultimately determines the game’s outcome.

Squid Game Season 3 ending explained: Who beat death to win it all?
In a twist nobody saw coming, Squid Game crowns an unlikely — and unborn — champion, delivering a finale that’s both devastating and hopefulX

Gi-hun, true to his selfless arc, dedicates himself to protecting Jun-hee’s baby throughout the final stages, even as other competitors, including the child’s own father Myung-gi (Yim Si-wan), try to eliminate her. Myung-gi, consumed by greed, believes killing the infant will secure his claim to the ₩4.56 billion prize. “He’s driven by excess,” Yim Si-wan explained in an interview. “He wants it all — at any cost.” What follows is a brutal knife fight between Gi-hun and Myung-gi atop the final tower. Both fall — but Gi-hun, in a final act of humanity, clings to the ledge, holding onto Myung-gi by a jacket. When the jacket tears, Myung-gi plunges to his death. But because the round was never officially triggered, his death is null and void.

Gi-hun then lets himself fall, ensuring the baby is the sole surviving participant — and the official winner.

According to Hwang Dong-hyuk, this ending was always meant to carry a message. “The baby represents the future,” he said. “We have a duty to leave behind a better world for the next generation.” So while the image of an infant winning a life-or-death game show may feel surreal, it aligns with Squid Game’s long-standing commentary on survival, sacrifice, and systemic failure. With Gi-hun’s death sealing her fate as the lone survivor, Jun-hee’s daughter doesn’t just win the game — she inherits a broken world, and perhaps, the power to change it.

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