OpenAI o3-mini Pricing 2026: $1.10/$4.40 Budget Reasoning Model
OpenAI's original budget reasoning model — same price as o4-mini, slightly lower quality. Both shutting down October 23, 2026.
⚠️ Deprecation Notice: o3-mini shuts down Oct 23, 2026
OpenAI is deprecating o3-mini on October 23, 2026. It will be replaced by GPT-5.6 Sol ($5.00/$30.00) for complex reasoning. If you rely on o3-mini, start planning your migration now — see the migration guide below.
What is o3-mini?
o3-mini is OpenAI's original budget reasoning model, using chain-of-thought thinking to solve complex problems step by step. At $1.10 input and $4.40 output per 1M tokens with a 200K context window, it was the first affordable way to access OpenAI's reasoning capabilities.
With the launch of o4-mini (identical pricing, better quality), o3-mini became the secondary reasoning option. Both models are being deprecated on October 23, 2026, replaced by GPT-5.6 Sol at significantly higher pricing.
Key Specs
- Pricing: $1.10 input / $4.40 output per 1M tokens
- Context window: 200K tokens
- Provider: OpenAI
- Tier: Budget reasoning
- Best for: Math, coding, data analysis, step-by-step problem solving
- Deprecation: October 23, 2026 → GPT-5.6 Sol
Migration Guide: What to Use After o3-mini
Option 1: GPT-5.6 Sol (OpenAI direct replacement)
GPT-5.6 Sol ($5.00/$30.00) is OpenAI's designated replacement. It's ~5x more expensive on output but offers significantly better reasoning and a 1M+ context window. Best if you need OpenAI's best reasoning and can absorb the cost increase.
Option 2: DeepSeek V4 Pro (budget reasoning alternative)
DeepSeek V4 Pro ($0.66/$1.98 off-peak) offers reasoning capabilities via its thinking mode at ~70% less cost than o3-mini. It also has a 5x larger context window (1M vs 200K). The best budget reasoning option after o3-mini deprecation.
Option 3: o4-mini (same price, better quality)
o4-mini has identical pricing ($1.10/$4.40) but improved reasoning accuracy. However, it's also shutting down Oct 23, 2026. Only useful as a short-term bridge if you need a few weeks to migrate to a permanent solution.
o3-mini vs Competitors
| Model | Input | Output | Context | Reasoning | Status |
|---|---|---|---|---|---|
| DeepSeek V4 Pro | $0.66 | $1.98 | 1M | Yes (thinking) | Active |
| o3-mini | $1.10 | $4.40 | 200K | Yes (CoT) | ⚠️ Oct 23 |
| o4-mini | $1.10 | $4.40 | 200K | Yes (CoT) | ⚠️ Oct 23 |
| Claude Haiku 4.5 | $1.00 | $5.00 | 200K | No | Active |
| Kimi K2.6 | $0.95 | $4.00 | 256K | No | Active |
| GPT-5.6 Sol | $5.00 | $30.00 | 1.05M | Yes (adaptive) | Active |
Real-World Cost Scenario
25,000 reasoning tasks per month
Each task: 2,000 input tokens + 3,000 output tokens (reasoning produces more output)
- o3-mini: $385/month
- o4-mini: $385/month (identical pricing)
- DeepSeek V4 Pro: $181/month (53% cheaper, off-peak)
- GPT-5.6 Sol: $2,525/month (556% more expensive)
The deprecation of o3-mini creates a significant cost increase for reasoning workloads. DeepSeek V4 Pro is the best budget alternative, offering similar reasoning at half the cost.
When to Choose o3-mini (Before Deprecation)
✅ Only if you already use it
- You have existing o3-mini integrations and need a few weeks to migrate
- You specifically prefer OpenAI's chain-of-thought reasoning style
- You're already locked into the OpenAI ecosystem
❌ Better alternatives for new projects
- Budget reasoning: DeepSeek V4 Pro ($0.66/$1.98) is cheaper with more context
- Quality reasoning: GPT-5.6 Sol ($5.00/$30.00) for best-in-class
- Non-reasoning budget: GPT-5.4 nano ($0.20/$1.25) for 80% less cost
- Don't start new projects on o3-mini — it shuts down in 2 months
Calculate your exact o3-mini migration costs
Open Free Calculator →Frequently Asked Questions
What is OpenAI o3-mini?
o3-mini is OpenAI's budget reasoning model that uses chain-of-thought thinking to solve complex problems. At $1.10 input and $4.40 output per 1M tokens with 200K context, it was OpenAI's cheapest reasoning-capable model before o4-mini launched.
How much does o3-mini cost?
o3-mini costs $1.10 per 1M input tokens and $4.40 per 1M output tokens. For 25,000 reasoning tasks per month with 2K input and 3K output tokens each, the total monthly cost is approximately $385.
When is o3-mini being shut down?
October 23, 2026. It's being replaced by GPT-5.6 Sol ($5.00/$30.00). Developers should migrate before this date to avoid service disruption.
What's the difference between o3-mini and o4-mini?
Identical pricing ($1.10/$4.40) and context (200K). o4-mini is newer with improved reasoning accuracy. Both shut down Oct 23, 2026. If choosing between them, o4-mini is marginally better.
What are the best alternatives to o3-mini?
For budget reasoning: DeepSeek V4 Pro ($0.66/$1.98 off-peak) at half the cost. For OpenAI reasoning: GPT-5.6 Sol ($5.00/$30.00) but 5x more expensive. For non-reasoning tasks: GPT-5.4 nano ($0.20/$1.25) or DeepSeek V4 Flash ($0.22/$0.66).
Is o3-mini cheaper than DeepSeek V4 Pro?
No. DeepSeek V4 Pro off-peak ($0.66/$1.98) is about 40% cheaper on input and 55% cheaper on output than o3-mini ($1.10/$4.40). DeepSeek also has 5x more context (1M vs 200K).