Despite claims that The Last of Us couldn't wrap up the stories of both games in three seasons, it seems that HBO is going to do exactly that. The first game was covered in the first season, and the second dealt with Ellie's half of the story in The Last of Us: Part II. We'll be wrapping Abby's perspective in Season 3, and then it seems we're done.
Speaking with Deadline, HBO's CEO and chairman Casey Bloys was asked if the show would be ending with its next season, alongside the hit drama comedy Hacks. "It certainly seems that way, but on decisions like that, we will defer to the showrunners. So you can ask them," Bloys said.
It may be a bit of a non-answer, but Bloys would likely confirm if more content was planned at the studio. The Last of Us Season 3 then is probably going to take us up to the end of The Last of Us: Part II. As Naughty Dog hasn't made any more source material for HBO to use, it seems the network won't risk spinning its own yarn about what happens to Ellie, Abby, and the rest of our survivors out there.