<p>Launched nationally in 2024, Indonesia’s Merdeka Curriculum (MC) marks a significant shift toward a more flexible, competency-based educational framework aimed at character development. This study aims to reveal the ideological underpinnings of the MC through a critical discourse analysis of curriculum documents, regulatory texts, and related public materials. Drawing on Fairclough’s three-dimensional discourse analysis model, we find a strong neoliberal influence upon the framing and orientation of the MC. Key elements of the MC, such as lifelong learning and the Pancasila Student Profile, which emphasizes the development of the values and skills essential for creating a workforce that is flexible and prepared for the market, reflect this ideology. Analysis also shows that the MC’s focus on accountability and standardization is consistent with the neoliberal ideology. These factors, however, run the risk of neglecting Indonesia’s particular geo-socio-cultural setting, which might worsen educational disparities and encourage the commercialisation of education. Therefore, it is important to carefully consider if a MC’s neoliberal ideology can successfully meet local educational demands.</p>