

Stranger Things Finale was released on Netflix in India on January 1 morning and it finally ended the chapter of Hawkins. Created by The Duffer Brothers i.e. Matt and Ross Duffer, Stranger Things Finale showcased an intense fight between Vecna aka Henry Creel in the Abyss with Eleven and her friends.
Since you have landed on this page, True Scoop assumes that you are puzzled around Eleven's death in Stranger Things Finale. For that you need to understand Stranger Things Finale's ending.
Stranger Things Finale showcased Dustin, Steve, Will and his other friends entering the Abyss from a radio tower. Steve was almost killed while entering it when he was saved by Will's brother.
Dustin and his gang found the tree, and when they were trying to enter it, the tree turned into a giant spider and attacked them.
In the Upside Down, Eleven, Jim, Kali, and others kill the Army hunting down El. In the process, Kali gets killed. Then, from the upside down, Eleven jumps into The Abyss with the help of floating rocks.
There, she saved Mike, Dustin and others from the giant spider. Thereafter, she enters the spider's heart and found Vecna along with the kids there.
Ultimately, with the help of Will and others, Eleven defeats Vecna and kills him there rescuing children from there.
Well, if you go by Mike's theory, the answer is no. When Dustin and others were caught by Dr. Kay's army, Elven stood behind in the Upside Down. When everything was sucked in the black hole, Eleven too gets there and everybody assumed that she is dead.
However, in the final moment of the finale, Mike after playing Dragons & Dungeons say that it was Kali's power that showcased everyone that Eleven is dead and now he feels that she is living in a small town with 'three waterfalls'.