This story contains spoilers for the Season Two finale of Loki.
Loki is one of the few characters who has stuck around in the Marvel Cinematic Universe since 2012's The Avengers. As the God of Mischief, Thor's resurrected brother, and a Time Variance Authority employee, Tom Hiddleston has taken Loki from villain to hero several times. Thanks to the success of Loki on Disney+, Hiddleston's superhero journey seems far from over. In Season Two's finale, Loki was stuck in a bizarre time-traveling loop. Now sitting at the edge of time and holding it together with his new powers, Loki's position in the future of the MCU has never been stronger.
With such a prominent role in Phase Five's multiverse dilemma, it's possible that Loki could continue for a third season. Still, Marvel has yet to announce any plans for Loki beyond the Season Two finale. For the comic-book juggernaut, that's quite normal. Loki is the only show so far in Marvel's Disney+ catalogue to receive a second season—and that trend could continue.
"We wanted to tell this story and tell it well, but even in Season One, we obviously were thinking about where we were going," executive producer Kevin Wright revealed in an interview with Collider. "I would say Season One and Season Two were developed and created as, like, kind of two chapters of the same book. We felt pretty strongly, all of us involved, that Season Two was about closing that book but that there are many other books on the shelf for this character and for this world. But this felt like it wanted to be the conclusion of these great things that we set up in Season One. We don't want to constantly leave people with drastic cliffhangers for our finales."
Wright's comments may hint that Season Two's finale may actually be the end of Marvel's current plans for Loki. (And that's not even considering the Jonathan Majors of it all.) But the door is always open, of course. With Loki's new role in the MCU, he's certainly very important to the upcoming Secret Wars multiverse extravaganza. According to a report from The Hollywood Reporter, Marvel is also interested in "the idea of multiseason serialized TV," as opposed to its limited-series runs so far.
When asked about a potential third season of Loki, Wright also told Variety, "We certainly did not develop this season going, 'We have to tee up Season Three'—in the way that we did with Season One, where there was a very specific, 'Hey, we’re coming back.'" At the same time, he continued, "I also think that where this show goes, there certainly can be many, many, many more stories told with Loki in the Loki world."
