The third and final season of the South Korean dystopian survival thriller television series Squid Game, marketed as Squid Game 3 (Korean: 오징어 게임 3) and created by writer and director Hwang Dong-hyuk, was released on Netflix on June 27, 2025.

The season stars Lee Jung-jae, Lee Byung-hun, Wi Ha-joon, Yim Si-wan, Kang Ha-neul, Park Gyu-young, Park Sung-hoon, Yang Dong-geun, Kang Ae-shim, Jo Yu-ri, Lee David, and Roh Jae-won. In the season, Seong Gi-hun and the players fight for survival in ever-deadlier games. In-ho welcomes the VIPs while his brother Jun-ho continues the search for the island, unaware of a traitor in their midst. The season received positive reviews from critics.

Numbers in parentheses denote the character's assigned player number in the Squid Game universe.

Additionally, creator Hwang Dong-hyuk makes a cameo appearance.

Hwang stated in December 2021 that he was discussing a third season of Squid Game with Netflix. The third season was confirmed after season two aired. When Hwang was thinking about the idea for the ending of season three, he thought of season three as the finale. He believed that with that story, he was able to tell everything that he wanted to tell through the story of Squid Game and also in the perspective of Seong Gi-hun as a character, and that he doesn't need any further stories from here.

Hwang originally envisioned the second and third seasons as one, but split them up after feeling there were too many episodes for one season. According to Hwang, at the beginning of the third season, Gi-hun will once again be a changed man compared to the previous two seasons and "at a very critical crossroads". The season will also reveal how Hwang In-ho became the Front Man. Cheol-su, Young-hee's giant robot doll "boyfriend", was introduced in the post-credits scene of the second season's final episode and will appear in season three alongside a new game. Speaking about the season, Hwang talks about how the emphasis this season places "on how [people] have to preserve their humanity amidst this intense competition" but introduces games "that could really show the lowest bottom of human beings" wanting "very intense games to bring out the bottom parts of human nature." He also talked about how the changes Gi-hun and Myung-gi go through are "dramatic" and how Jun-hee's baby will be very relevant "not just for Jun-hee, but [also] for the fate of everyone inside."

Hwang had originally written the season to end with Gi-hun being able to escape the games, winning or not, along with others, and going to see his daughter, but felt this ending "didn't line up for me" given the situation in the contemporary world. He altered the story to include Jun-hee and her baby as to allow Gi-hun to sacrifice himself for the baby's future, which Hwang saw as a symbol of the next generation.

Lee Jung-jae and Lee Byung-hun reprise their roles as Gi-hun and the Front Man. As the games of the second season continue, Wi Ha-joon, Kang Ha-neul, Park Sung-hoon, Yim Si-wan, Yang Dong-geun, Park Gyu-young, Jo Yu-ri, Kang Ae-shim, Lee David, and Roh Jae-won reprise their roles.