The story immediately picks up with the final spar between Ed and Father, who is rapidly losing control over his power. In one final attempt, Father impales Greed and drains his Philosopher's Stone. Greed, ever defiant, is able to turn part of Father into charcoal, his carbon's weakest form, before being killed by the homunculus and fading away, content to have made friends after all. Ed proceeds to smash a hole in Father, who finally releases Truth along with all of the souls of Xerxes in his body. The scene shifts to just Father, back in his tiny homunculus form, before the Gate of Truth, and God tells him that it is his final fate to fall back into the Gate into eternal despair, the cost of his conceit (similar to the other costs paid by those who opened the Gate.)
Meanwhile, in the devastated Central, the battered victors are still in shock over Al's sacrifice. Ling first offers his Philosopher's Stone to get him back, but Ed reminds him that they had sworn not to use one to recover Al's body. Then Van Hohenheim himself offers to be the toll to save his son, but Ed still rejects the offer, though finally acknowledging him as his father. After thanking everyone who is left, Ed draws a human transmutation circle and goes before Truth and the Gate. Truth asks what the cost will be now, and Ed replies that he will pay with the Gate, which is revealed to be the source of Alchemy within all alchemists. Truth asks then how he will manage without his greatest skill, and Ed simply replies "Even without Alchemy, I still have my friends." Truth says that this is the correct answer, and concedes defeat. Ed then transmutes his Gate, and finds Al, body and soul in one again.
The two brothers then return to everyone's amazement, and as Hohenheim welcomes his son back, Al notices the amazing sensations that have now returned to his real body. The Hohenheim walks off into the dust. Olivier and Alex resolve to rescue any civilians trapped in the rubble their battle has created, and Mustang's radio team broadcast their version of the story, revealing how the upper echelon plotted on alchemically harming the populace, though not revealing Bradley's identity. Riza is visited in the hospital by Rebecca, who comments on the hard task of reconciling the Briggs attack on Central with the main story. Meanwhile, Mustang is met by Dr. Knox and Marcoh, who restores Mustang's sight with his Philosopher's Stone in exchange for the promise that, when in power, Roy will ensure a full restoration of Ishvalan rights, and the opportunity for Marcoh to be a physician among them.
Ling and Lan Fan are discussing Ling's future as emperor of Xing, and Lan Fan requests that the other families not suffer as a result of his success, a proposal that Ling easily accepts (May hears this and bursts into tears of relief). The Xingese then depart for their home, bearing Fu's body.
The scene shifts over to Pinako, approaching Trisha's grave. She discovers Hohenheim, stooped over and smiling, who has finally died in peace at the gravesite of his wife. Scar is then shown to have been recuperating in a makeshift hospital, and he is visited by Olivier and Miles, who has a proposal that would include Scar in aiding in the restoration of Ishvalan society. As the two depart to begin their work, Olivier asks one last time as to Scar's real name, to which he smugly replies that he has no need for a name, and can be called whatever one likes.
Ed and Al now are seen walking home after Father's defeat (Al lacking the long hair as previously shown). Al, still somewhat weak, is not even recognized at first by Winry's dog, Den. Winry walks out, and after a moment of shock at Al's new appearance, runs out to embrace the two. Pinako is listening to Central's radio, which speaks of newly-christened Brigadier General Mustang as having been dedicated to restoring the Ishvalans and even having made a pact with Emperor Ling. Ed is busy fixing Winry's roof, now soaking up the fact that he no longer has Alchemy at his easy disposal, but still content to take his time. Two years later Führer Grumman is seen talking to Miss Bradley, and a slightly more childlike Selim runs in, apparently free to be a child again. Al decides to leave for Xing to learn alkahestry, and pays his last respects to the Hughes family as he leaves, and taking Zampano and Jerso into his company along the way. Meanwhile, Ed and Winry are waiting for Ed's train to head west, and at the last second, Ed and Winry confess their feelings for each other, with Edward using Equivalent Exchange to propose.
The final page is a collage of pictures of the characters at last; some of the pics include: a recovering Havoc struggling in rehab, the side by side graves of Trisha and Hohenheim, Roy, who appears to have regained his sight and been promoted, with Riza, a long-haired Scar alongside Miles, Emperor Ling Yao with Lan Fan, and finally, a family pic of the Elrics, including Ed, Winry, their two children, as well as Al and May Chang.
- This is the final chapter in the Fullmetal Alchemist manga series.
- Pride is apparently the only Homunculus remaining alive, living the life of a human as Selim Bradley. Details about his future are unclear, however.
- Due to the fact that the Philosopher's Stone within Pride is a smaller piece of Father's stone, Father—or at least part of him—is technically alive as well.
- The only feasible method for Mustang to retrieve his eyesight would be for Roy to travel to his Gate with Marcoh's Philosopher's Stone and retrieve his eyesight personally while using part or all of the stone as toll. For this, a Human Transmutation would be necessary, making it sure that Roy would need to have performed some sort of Human Transmutation - possibly modeling it after Edward's final display.
- In a Japanese newspaper contest, there was a contest to see what words were best to use when proposing, and the words Edward and Winry used during their confession here won. Although, it was later removed once it was discovered that it came from a manga.