Kill opponent by knocking off all their hit points or by successfully using an instant kill move, hyper move, or super move.
Knock opponent out by knocking off all their energy or be successfully using an instant knock out move, hyper move, or super move.
Ring opponent out.
or Have more total hit points and energy than opponent.
Draws are considered loses for both characters if happen in a mode where characters aren't decided before every fight, but are just draws in modes where the characters are specificly chosen before each fight.