this is it phrase2 •Used to indicate that something important has finally happened or is about to happen.Yesterday, when I heard that General Prats had resigned as Commander-in-Chief, I thought to myself, This is it. The Fascists have finally driven him out. — 1986 •Used to acknowledge the limits of something.Remember, the key here is that you know that this is it, the last copy; there will be no more chances to revise, no typist to complete this onerous task. — 1977