Yes, this life cycle of material existence will end forever because after you attain moksha you don't return to this material existence ever again.
This is confirmed in the scriptures.
Thus the Bhagavad gita 8.21 says:
That which the Vedāntists describe as unmanifest and infallible, that
which is known as the supreme destination, that place from which,
having attained it, one never returns – that is My supreme abode.
See also Bhagavad gita 15.4:
Thereafter, one must seek that place from which, having gone, one
never returns, and there surrender to that Supreme Personality of
Godhead from whom everything began and from whom everything has
extended since time immemorial.
And also Bhagavad gita 8.15:
After attaining Me, the great souls, who are yogīs in devotion, never
return to this temporary world, which is full of miseries, because
they have attained the highest perfection.
See also the last verse in the Chandogya Upanishad, it's verse 8.15.1 says:
... concentrated all his senses on the Self, never giving pain to any
creature, except at the tîrthas (sacrifices, &c.), he who behaves
thus all his life, reaches the world of Brahman, and does not return,
yea, he does not return.
So, the verses say that one who reaches the supreme destination, the Lord's supreme abode (Goloka, or Vaikuntha, ie the world of Brahman), one who has attained the Lord there and thus has attained the highest perfection, and there has surrendered himself to the Lord, he never returns to this material existence again, which is temporary material existence though.
But if you do not attain moksha, then this life cycle of material existence, ie the cycle of repeated births and deaths (samsara), will not end until you get moksha.
Thus that expression "one never returns" means attainment of moksha or "liberation from the cycle of repeated births and deaths", so the life cycle is over and will never happen again. Had the text said something like "he will return to this cycle of samsara again" then it would mean that there is a possibility of return and continuation of this cycle. But the text doesn't say anything like that.