The season finale of X-Men '97, "Rise of Apocalypse Part 2," delivered a significant blow to the mutant team with the apparent death of Magneto. The episode saw the X-Men stranded in ancient Egypt attempting to return to their own time while assisting En Sabah Nur, who would eventually become the villain Apocalypse, in a slave rebellion.
Magneto's plan to steer the future En Sabah Nur toward a path of good, hoping to prevent the tragedy of Genosha, began to unravel when Nur discovered the X-Men's time-traveling nature. This led to an attack by Pharaoh Rama-Tut. In the concluding part of the "Rise of Apocalypse" two-part episode, the X-Men confronted Rama-Tut. During this confrontation, Nur discovered the extent of the X-Men's deception upon seeing murals depicting his future transformation into Apocalypse using Celestial technology. He then embraced this destiny.
While Rama-Tut and most of the X-Men escaped through time travel, Magneto remained behind to mitigate the consequences of Apocalypse's actions. Using his powers, he attempted to contain a black hole created by Apocalypse above Rama-Tut's city, a heroic act that he knew could cost him his life. Following this, a badly injured Magneto crashed back to Earth, where he was seemingly disintegrated by Apocalypse, with only his helmet left as a grim memento. Forge later rescued a distraught Charles Xavier to return him to the 1990s.
However, Magneto's death is likely not the end for the powerful mutant. The history of X-Men comics and adaptations is rife with instances of characters faking their deaths or being resurrected. In the original X-Men: The Animated Series, Morph was presumed dead but later returned under Mister Sinister's control. Jean Grey's death and subsequent resurrection through the collective life force of the X-Men is another notable example. Even Professor X, who was mortally wounded at the end of the original series, returned in X-Men '97 after being healed by the Shi'ar.
Apocalypse himself has a history of recruiting powerful mutants rather than eliminating them. While he told Charles Xavier he would not make him a "Horseman" due to his perceived lack of resolve, there was no such assurance given to Magneto. The post-credits scene of the season finale also fueled speculation that Apocalypse might resurrect Gambit to join his ranks. This possibility, along with the potential to recruit other fallen mutants from Genosha like Banshee, Magik, or Madelyne Pryor, suggests Magneto could also be transformed into one of Apocalypse's formidable Horsemen, posing a grave threat to the surviving X-Men.