Did Shadow the Hedgehog Die?

Then, as Super Sonic and Super Shadow, they destroyed the Biolizard (the Ultimate Life form prototype), having become a monster named Finalhazard, and using their pooled energies, created a Chaos Control which stopped the fall. Afterwards, Shadow fell to the earth and was presumed dead.

Is Shadow the Hedgehog dead?

This tells the viewers that Shadow is in fact alive. Although Shadow's blood is red in Episode 73, it is hinted in the game Shadow the Hedgehog that his blood is actually green due to all members of the Black Arms having green blood, but probably also has the same blood as Professor Gerald.

How did Shadow come back to life?

Shadow having returned after his presumed death. At an unknown point in time, Dr. Eggman had located Shadow's unconscious form, and recovered him. Bringing him aboard the Crimson Egg, Eggman placed Shadow's body in a rejuvenation capsule, powered by a Chaos Emerald, in hopes of reviving him.