The Light of Hope is a force from the final season of the anime, named by the Sailor Starlights as the one means of defeating Sailor Galaxia. Rather than a single person, it proves to be the hope that lives in every heart, embodied in Galaxia's own lost Star Seed.
Much of the mystery around the Light of Hope lies in how it seems to show itself. A shadowy figure bathed in pink light fuels rumors that it wears a face, but that image is a false lead, as is the belief that Galaxia's Star Seed is the Light itself. Its real vessel is Chibi Chibi, the form the wandering Star Seed adopts to stay close to Usagi. In the final episode Chibi Chibi briefly takes on a look close to the manga's Sailor Cosmos, and it also manifests as the Sword of Sealing.
At its core the Light of Hope is not a being with a personality but a truth about everyone. Sailor Moon ultimately reveals that hope dwells inside every person, seated in the heart, exactly as Chaos lurks in the darkest corner of every mind. The Starlights and others long assume it must be one specific savior, but its nature is far broader than any single figure.
Fearing that the Chaos she had sealed within herself would one day consume her, Sailor Galaxia tore out her own Star Seed and cast it into the distant reaches of the universe, trusting that someone would take it in freely. The Star Seed drifted to Earth, found Usagi Tsukino, and became Chibi Chibi so it could remain beside her. When the moment came, it offered itself as Usagi's new Star Seed, a path that would have turned her into a figure resembling Sailor Cosmos, but Usagi instead let it become the Sword of Sealing to strike at the Chaos-possessed Galaxia. Dark Galaxia shattered the sword, and it reverted to Chibi Chibi before fading. After Sailor Moon prevailed through the strength of her own love and the stolen Star Seeds were released, Chibi Chibi returned once more, restored each Star Seed to its rightful owner, and rejoined her host, Galaxia.

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The Light of Hope is the force from the Sailor Stars season that the Sailor Starlights identify as the only way to defeat Sailor Galaxia, ultimately revealed to be the hope living in every heart, embodied by Galaxia's own lost Star Seed.
Fearing Chaos would consume her, Sailor Galaxia tore out her own Star Seed and cast it away, and it became Chibi Chibi so it could stay near Usagi Tsukino until sacrificing itself as the Sword of Sealing to help defeat Galaxia.
The Light of Hope is embodied by Chibi Chibi, the wandering form that Sailor Galaxia's lost Star Seed takes so it can remain close to Usagi Tsukino.
Besides Chibi Chibi, the Light of Hope manifests as the Sword of Sealing, which Usagi Tsukino uses to strike at the Chaos possessed Sailor Galaxia.
After Sailor Moon defeats Galaxia and frees the stolen Star Seeds, Chibi Chibi returns, restores each Star Seed to its rightful owner, and rejoins Galaxia as her host.
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