According to Blizzard community manager Keganbe, the first ranked season of Hearthstone will come to its end two days after New Year's eve. The rankings will be reset the the climb for everyone will start a new from rank 25.
Another test season will start on January 2nd, Blizzard say. There's no information on whether or not testing ranked will end with season two or there will be more in the future but what's known is that ranked rewards like alternate card backs and golden heroes will not come until the test seasons are concluded.
Thank you for helping us test our very first Ranked Play season! This season is intended to conclude on January 2nd, so be sure to wrap up your climb up the ladder before that date. Once the season is over, everyone’s ranking will be reset back to Rank 25, and Test Season 2 will begin!
During the course of this first test season we’ve gotten some very valuable feedback and data from you regarding the new Ranked Play system. We greatly appreciate your efforts in helping us test this updated Play mode, and we look forward to seeing your future feedback in Test Season 2. In the future, once the Test Seasons have concluded, we look forward to adding our Ranked Play rewards: Alternate card backs and Golden Heroes. We can’t move on without your help.
Source: Battle.net
