We do know that Naughty Dog has already mentioned that Uncharted 4: A Thief’s End is the last game in the series. Naughty Dog however may have teased that this could also mean the end of Nathan Drake too.
Uncharted 4: A Thief’s End’s creative director, Neil Druckmann, was interviewed by The Sun. During the interview and Druckmann’s choice of words, The Sun feels that he was hinting that Nathan Drake might die in the new game.
Druckmann said: “We’ve been with this character for so long. He’s at the height of his popularity, so it’s not a good business decision. But I feel like the best way to honour him is to go out on top, to finish his story.
By the end of Uncharted 4 it will be really hard to do a sequel with Nathan Drake
Whether that’s it for Uncharted? I don’t know. At the end of the day Sony owns Uncharted and they can do whatever they want. But with the end of this story, it will be really hard to do a sequel with Nathan Drake.”
It sounds like Naughty Dog feels Sony cannot make a sequel of Uncharted with Nathan Drake in it. This could mean he dies and that’s the end of his story. It could also mean Uncharted 4: A Thief’s End shows him retiring as an old man. Either way, Nathan Drake as a character may not be returning.
In either case, Naughty Dog does not intend to make anymore Uncharted games. Sony owns the IP, but they’ll have to assign another developer to make Uncharted games if they want to continue the series.