God of War Ragnarok will be the final chord in Kratos' Scandinavian adventure. There are two reasons why this storyline will be limited to two parts - both practical and narrative.
After the first portion of God of War, and also on the example of Halo, Star Wars, Lord of the Rings, when it comes to major sci-fi or fantasy franchises, we just automatically expect to see a full-fledged trilogy. But, as it became known, Ragnarok, the sequel to the previous game, will be the end of this story. As explained by God of War director Cory Barlog, the third part would have further delayed the expectation of a logical ending.
In an interview with Kaptain Kuba, Barlog stated:
Thus, there are several reasons. One of the most important, in my opinion, the first game took 5 years. I don’t know how long it will take to develop the second part, but I’ll just say that it, plus or minus, will take the same years. Now imagine if the third part takes the same amount of time. In this case, we will talk about a history of 15 years. I guess that's overkill.
He then continued, emphasizing that the story of Kratos and Atreus allows for a third part, but again he doubted the wisdom of such long pauses. Corey cited the extended edition of the Lord of the Rings trilogy as an example, stating that it's much more interesting to spend 13 and a half hours and relive the whole story at once.