Kingdom Hearts 2 ups the ante from its predecessor in a number of ways, expanding the combat, making the story significantly more complex, and having even more Keyblades available for the player to unlock and experiment with. All of this combines to make an experience that can be a wonder for players who were already happy messing around with the combat mechanics of the original Kingdom Hearts, but it can be a little confusing, maybe even overwhelming, for new players who aren't sure what to use for the game's more difficult enemies.
Similar to the tier list for the original Kingdom Hearts, this tier list will primarily be ranking the Keyblades based on two factors: design and utility. When a Keyblade can be unlocked and how difficult it is to do so can also factor in, mainly if those things influence its usefulness, but the first two factors are primarily what will influence the Keyblades in different tiers.
S Tier
Decisive Pumpkin: Both of the S-tier Keyblades tie in second place for having the highest Strength stats in the game, and they could both be considered equal in usefulness while fulfilling different niches for players with varying combat styles. Decisive Pumpkin has a low Magic stat, but makes up for that with an ability that rewards players who like to pull off vicious combos. It's design also perfectly encapsulates the vibe of Nightmare Before Christmas.
Ultima Weapon: The Ultima Weapon is one of the best Keyblades across Kingdom Hearts and it maintains that status in this title. It has the same Strength as Decisive Pumpkin alongside a higher Magic stat, and an ability that benefits players who prefer a more Magic-heavy build over something more Strength-driven.
A Tier
Circle of Life: On top of being an impressively primal design, Circle of Life boasts a solid Strength stat and an ability that encourages a lot of magic use, making this a well-rounded Keyblade that is obtainable early on and viable for a long time.
Rumbling Rose: This Keyblade has one of the highest Strength stats outside of those in the S-tier. It has a 0 in Magic, making it completely unviable for anyone with a Magic build, but for players focusing on Strength, Rumbling Rose's ability to use multiple finishers successively can make it extremely useful. Its design looks ferocious, even though it may leave the player questioning how Sora uses it without damaging himself.
Guardian Soul: The sleek and dark design compliments this Keyblade having one of the highest Strength stats in the game. Similar to Rumbling Rose, it's not exactly a Keyblade designed for Magic builds (although Guardian Soul at least has a 1 in its Magic stat) but its ability to make reaction commands stronger is one that Strength build players should keep in mind for the end game.
Fenrir: This Keyblade holds the highest Strength stat in Kingdom Hearts 2 at a whopping 7, which combines with a long range to make this weapon incredibly lethal. Its ability holds it back from taking a higher place on the tier list, though, as it actively punishes the player for using such a powerful weapon. The Final Fantasy 7-esque design and highest Strength stat still keep it in A.
Oblivion: This is the only Keyblade besides the two in S-tier with a 6 in its Strength stat. It's one of the best Keyblades in the original Kingdom Hearts, but the reason it places in a lower tier here is largely due to not being quite as useful as many of the other endgame Keyblades. Its ability serves some utility for players who like to spam Magic attacks, but by the time the player can obtain Oblivion they might as well just get Ultima Weapon and have a stronger ability and Magic stat. Its design is also far more tame than those of the same Strength.
Winner's Proof: This is one of the more difficult Keyblades to obtain in Kingdom Hearts 2, and thus it's a little strange that it isn't more useful. Winner's Proof isn't useless by any means -- it has the highest Magic stat of any Keyblade, and decent Strength as well -- but its ability negates the player's ability to gain experience. If this Keyblade had any kind of beneficial ability, it could very likely be S-tier, but as it stands, it takes up the bottom of A, just edging out of B-tier for having one of the game's best designs.
Two Become One: There's good Strength and Magic here along with a unique ability whose usefulness ultimately comes down to how the player uses Drive Forms. If there's a heavy emphasis on Drive Forms in gameplay, along with an interest in learning and utilizing the Anti Form, Two Become One can be a valuable tool, even in the late game. If not, it may get upstaged by most others with comparable stats. It's worth noting that this is one of the new Keyblades that is only available in the Kingdom Hearts 2 Final Mix.
B Tier
Bond of Flame: There are three Keyblades in the game that boost the three major Kingdom Hearts elemental spells. Bond of Flame obviously boosts fire. It comes out on top as the most complex design and the most useful of the three elemental Keyblades with the best stats, although all the elemental Keyblades suffer from being useless against certain enemies who negate the respective elemental damage.
Wishing Lamp: This Keyblade is all-around solid in terms of stats, design, and an ability that can be great for any players who need to farm Munny. Its lack of a useful combat ability is the main thing holding it back from greatness.
Oathkeeper: Oathkeeper has a decent design and stats, but nothing particularly special. The main thing that increases this Keyblade's effectiveness is its ability to increase the time Sora spends in Drive Form, one of the best abilities in Kingdom Hearts 2. Players who often use those forms to take down bosses and other large enemies may find themselves favoring Oathkeeper long past the time where its base stats would dictate it be left behind.
Fatal Crest: Good stats and an eerie design propel this Keyblade above many, but it's the ability that may make or break Fatal Crest for certain players. An endless string of combos may sound amazing, but the lack of an ability to execute a high-powered finisher may ultimately make this Keyblade not feel worth it.
Hero's Crest: This Keyblade's Strength stat is extremely useful for the point in the game where it can be obtained, and its ability is important for players who like to pull off long combos. It's mostly worthless for Magic-build players, though, and its Strength stat will not carry Hero's Crest into the late game.
Star Seeker: One of the earliest Keyblades Sora receives in the game, its stats lose relevance in the mid-game similar to the Kingdom Key. It lands somewhat higher in the tier list for its ability, which can be stacked with other power-ups to allow for mind-blowing midair combos, as well as its standout visual design.
Gull Wing: This is a great Keyblade for players who need to grind levels at any point for some of the brutal bosses of Kingdom Hearts 2 due to its experience-enhancing ability. Aside from that, its stats are far too low to justify its use in combat after the early game.
C Tier
Mysterious Abyss: This is the Keyblade that boosts Blizzard damage. Similar to its elemental counterparts, this can be very helpful against certain enemy types, but is unlikely to be a Keyblade the player will need to use often, especially considering it has lower Strength and Magic than Bond of Flame. Its design is also less notable, with a fairly generic water theme.
Photon Debugger: Photon Debugger boosts Thunder damage, which can be useful in niche situations, but it ultimately has some of the lowest base stats of any Keyblade in the game.
Sleeping Lion: This Keyblade has decent Strength and Magic, but it somewhat fails to standout in terms of utility or flash. Its ability is seen by some as useful and by others as a crutch due to prolonging the amount of time it takes to reach a finisher.
Kingdom Key: The old reliable starter Keyblade gets points for being the iconic design that represents all Keyblades of the series and still holds up more than 15 years after Kingdom Hearts 2's original release. It also has a fairly useful ability that will likely spare newbies some early deaths due to beginner's mistakes. It'll become irrelevant once some new Keyblades are unlocked, however, and it'll stay that way.
Monochrome: This Keyblade just can't quite find its place anywhere in the game. It has a decent Strength stat, but a 0 in Magic, and its ability to increase the effectiveness of restoration items essentially only makes this a viable Keyblade for the niche build of constant item use. Monochrome's design definitely fits Timeless River, one of the best worlds in Kingdom Hearts 2, although it can make the Keyblade look a little too dull and grey in other worlds.
D Tier
Follow the Wind: It has an interesting, axe-like design and an ability that can be useful in niche situations where gathering a lot of orbs quickly is necessary. The Keyblade's stats are equivalent to the Kingdom Key, though, which has a better ability for combat and is already outclassed by the time this key can be obtained.
Sweet Memories: This Keyblade has the honor of being the first in the series with a 0 Strength stat. Its somewhat-high Magic stat makes up for that, but that stat is outclassed by other Keyblades that actually have more than 0 in Strength. On top of that, its ability to turn Munny into orbs to fuel Kingdom Hearts 2's Drive Forms is also not exactly an incentive to equip. The design is also nothing particularly special.
Hidden Dragon: This Keyblade's design isn't bad, but that can't save it from being one of the worst Keyblades in the game purely off its barebone stats and weak ability. Hidden Dragon's ability gives the player more MP depending on the amount of damage they take. This means low-health players who need to cast Cure have to take damage to get healed. Ultimately there's no reason to use this Keyblade compared to the other options.