Before I discuss the possibility of a second season of Death Parade, or lack thereof, I would like to make it clear that I found the ending of the first season of Death Parade very satisfying. If this were to be the conclusion of the entire Death Parade franchise I would not be too disappointed.
The last episode (Episode 12) was so powerful that I can easily it was my favorite episode of Death Parade. We are given a wonderful ending, which shows how Chiyuki's time at Quindecim comes to a close. We see the maturity of her character come forward when she decides she will not return to her old life because she does not want to put someone else through the pain of losing a loved one.
The finale had a lot of meaning, but there is still a lot to be answered in the world of Death Parade. Character's like Oculus still have a lot of mystery behind them. He does not have the same kind of eyes as Decim and all of the other characters that permanently reside in the 'second world' shown in Death Parade. But why is that the case? What makes him so special? In the final episode he also says that he himself is also a puppet. So if he is not the one who controls everything in the world that is shown in Death Parade then who is?
In the final line of the final episode Oculus warns that arbiters that get too close to humans will always suffer. However, the first season concludes in a way such that Decim is shown to be just fine even though he was very attached to Chiyuki. This may imply that there is a lot more to the story of Decim.
Death Parade is created by the Japanese animation studio, Madhouse. And Madhouse is infamous for leaving their series after the first season, so many may dismiss the chance for a second season of Death Parade as well. But I am hopeful, simply because there are still questions to be answered and characters to be developed.
As far as I am concerned, Death Parade is a great series and deserves a season 2. Unfortunately for all Death Parade fans out there, I am not the CEO of Madhouse.