In the climactic ending, the various storylines converge as the Burgue is pushed to the brink of civil war. Philo ultimately reveals his half-Fae parentage to the public but chooses not to take a leadership role, opting instead for a different path of justice. The series concludes with a sense of "betterment" for the Row, showing the Fae living in relative peace and Imogen and Agreus starting a new business venture together.

The leaders Jonah and Sophie both die in the political chaos. Philo is offered the position of Chancellor but rejects it, choosing instead to live as a free man, though he is later targeted in an assassination attempt which he survives.

Reviewers praised the "breathtaking" set pieces, costumes, and improved CGI, though some found the political subplots to be occasionally muddled.

"Carnival Row" Season 2 has received widespread critical acclaim for its gripping storytelling, atmospheric setting, and standout performances. The show's exploration of complex themes, coupled with its fantastical world-building, has solidified its place as one of the most captivating and immersive fantasy series on the small screen.