• Squid Game season 3 fan theory sees Thanos return
  • K-pop star T.O.P played the character in Squid Game season 2
  • Despite this theory, plot holes remain
A new Squid Game Thanos fan-theory imagines this fan-favorite character back for season 3.
A new Squid Game Thanos fan-theory imagines this fan-favorite character back for season 3. Credit: Netflix

A new Squid Game Thanos fan theory envisions a surprise return for this fan-favourite character.

Squid Game season 2 dropped on 26 December 2024 and plunged us back into a deadly world. Our hero Seong Gi-Hun (Lee Jung-jae) re-enters the Squid Game determined to convince its players that violence and money aren’t answers to life’s problems. However, he’s met with some problematic new faces.

Read more: Fans notice Kendrick Lamar Squid Game homage

One of them is Thanos, a purple-haired, drug imbibing wildcard who throws a spanner in the works whenever Gi-Hun tries to lead players to a better fate. 

The character was played by Choi Seung-hyun, a star better known as T.O.P, the breakout singer from the K-pop act BigBang. He quickly became a fan-favorite. However, after meeting a fate that left little wiggle room for continuation, it appeared Thanos’ story had ended before it began.

Read more: What happens to Thanos in Squid Game season 2?

Or has it? A new Squid Game fan theory suggests a scenario where Thanos could return for another outing. How would that work? Let’s find out. 

Squid Game Thanos fan theory

Thanos in Squid Game was played by T.O.P AKA actor Choi Seung-Hyun.
Choi Seung-hyun as Thanos in Squid Game season 2. Credit: Netflix

According to ScreenRant, a new Squid Game fan-theory has been doing the rounds that will see Thanos return… in hallucination form. 

Warning: Squid Game season 2 spoilers lurk below…

For those unaware, Thanos died in episode six of Squid Game season 2 while fighting in a bathroom with fellow player Lee Myung-gi (Yim Siwan). 

Before this happened, Thanos formed a close bond with another player, Nam-gyu (Roh Jae-won). He was close by during Thanos’s death. 

This new theory proposes the idea that Nam-gyu takes the drugs that Thanos had smuggled into the Squid Game and starts using them for himself. Before his death, Thanos was seen sharing his supply with Nam-gyu to help provide extra gusto ahead of each new game. 

While it’s unclear what the exact side effects of Thanos’s drugs are, the theory suggests that one of them could be hallucinations. This paves the way for a potential return for Thanos.

Will Thanos return for Squid Game season 3?

Squid Game season 3.
Lee Jung-jae returns as Seong Gi-Hun for Squid Game season 3. Credit: Netflix

While this fan theory sounds intriguing, it might not hold up logistically. 

According to reports, Squid Game creator and director Hwang Dong-hyuk filmed seasons 2 and 3 of Squid Game back-to-back. This means that there would’ve been no way of knowing just how popular Thanos would become while he was shooting new episodes. 

With this in mind, it’s unlikely that T.O.P. would have been unnecessarily featured after his death – but not impossible. Dong-hyuk has already teased fans by saying that Thanos’s presence will be felt throughout Squid Game season 3. However, he’s remained tight lipped on the specifics. 

Either way, all will be revealed when Squid Game season 3 hits Netflix on 27 June 2025.

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Simon Bland
Simon is a freelance entertainment journalist and SEO writer based in the UK. He writes about movies, TV and pop-culture and his work has appeared in The Guardian, The Independent, The Daily Beast, IndieWire, Yahoo Entertainment, Rolling Stone, Little White Lies and more.