Squid Game: The Challenge is a British reality competition television series based on the South Korean drama series Squid Game. The show features 456 players (the largest cast in reality TV history) competing for US$4.56 million, the then largest, and 2nd largest overall single cash prize in reality television history behind only the upcoming Beast Games TV series which will have a grand prize of $5 million.

The Netflix original was produced as a collaboration between independent television production companies Studio Lambert and the Garden, with Studio Lambert leading physical production in the UK. The first 5 episodes of the show were released internationally on 22 November 2023 on Netflix. Episodes 6–9 were released on 29 November, while episode 10, the finale, was released on 6 December.

The show was No. 1 on Netflix's list of Top 10 English-language show for the first two weeks after its release. It had 20.5 million views in its first week, 11.4 million in its second, and 6.6 million in its third, with a total of over 224 million hours watched within the first 21 days.

On 6 December 2023, prior to the release of the season one finale, Netflix announced a second season order.