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The final result of the Winter War was a strategic loss for Finland. The Finns were forced to sign the Moscow Peace Treaty on March 13, 1940, giving the Soviet Union the Karelian Isthmus and along with it Viipuri/Viborg and the Aaland Archipelago. Over 30,000 Finns were dead along with more than 130,000 Soviets – the war was a truly devastating a sign of things to come during World War II. <ref> Edwards, p. 258</ref>

Despite technically losing the Winter War, Finland survived and was able to fight on a year later against the Soviet Union in what became known as the Continuation War. Finland was able to survive the power of the Red Army due to a combination of factors. The Finns were blessed with an especially capable high-command that was given free reign by their government to carry out a strategy that utilized their country’s topography and allowed their soldiers to employ guerrilla tactics. On the other side, the Red Army was plagued by politics and purges, which resulted in a lack of morale among their rank and file. Today, military historians often point to the Winter War as a case study of what a modern day David can do against a Goliath.