The Scriptures speak of man separated from God by a barrier.  This barrier consists of the holiness of God (Is. 6.3; Hab.1.13), the sin of man (Is. 6.5; Ps. 51.5; Rom. 3.23; 5.12), the penalty of sin (Rom. 6.23; 1 Cor. 15.22), and the righteousness of man (Is. 64.6).  Man is presented in the Scriptures as a slave of sin.  Jesus spoke of this fact in a heated exchange with the Jews,

"They answered Him, 'We are Abraham's descendants and have never yet been enslaved to anyone; how is it that You say, "You will become free?"'  Jesus answered them, 'Truly, truly, I say to you, everyone who commits sin is the slave of sin.  The slave does not remain in the house forever; the son does remain forever.  So if the Son makes you free, you will be free indeed'" (John 8.33-36).

Paul also declared this truth in Galatians 4.3-8,

"So also we, while we were children, were held in bondage under the elemental things of the world.  But when the fullness of the time came, God sent forth His Son, born of a woman, born under the Law, so that He might redeem those who were under the Law, that we might receive the adoption as sons.  Because you are sons, God has sent forth the Spirit of His Son into our hearts, crying, 'Abba! Father!'   Therefore you are no longer a slave, but a son; and if a son, then an heir through God.  However at that time, when you did not know God, you were slaves to those which by nature are no gods."

The meaning of redemption is to purchase back something that has been lost.  In the Old Testament, two Hebrew verbs are used for redeem.  One is l)agF and the other is dfpf.  The former word deals with family relationships and their responsibilities.  It is used of Boaz's marrying the widow of a deceased kinsman, i.e. Ruth (Ruth 3.13), of buying a family member out of slavery (Lev. 25.48-55), of reclaiming a field sold in a time of financial distress (Lev. 25.26) and of killing someone who murdered a family member, (Num. 35.19-24) i.e. the "avenger of blood".  It is also used of God, preeminently in his deliverance of Israel from Egypt,

"Say, therefore, to the sons of Israel, 'I am the LORD, and I will bring you out from under the burdens of the Egyptians, and I will deliver you from their bondage. I will also redeem you with an outstretched arm and with great judgments'" (Ex. 6.6).

The word hdfpf is used in reference to a ransom by payment of a price.  It does not have familial obligations.  The primary idea of this word is substitution.  According to the Law, the first-born belong to the Lord but in certain cases a substitute is permitted:

"But every first offspring of a donkey you shall redeem with a lamb, but if you do not redeem it, then you shall break its neck; and every firstborn of man among your sons you shall redeem.  And it shall be when your son asks you in time to come, saying, 'What is this?' then you shall say to him, 'With a powerful hand the LORD brought us out of Egypt, from the house of slavery.  It came about, when Pharaoh was stubborn about letting us go, that the LORD killed every firstborn in the land of Egypt, both the firstborn of man and the firstborn of beast.  Therefore, I sacrifice to the LORD the males, the first offspring of every womb, but every firstborn of my sons I redeem.'  So it shall serve as a sign on your hand and as phylacteries on your forehead, for with a powerful hand the LORD brought us out of Egypt" (cf. Num. 18.15-17).

The word rpeok is a noun used of the ransom price for a life.  An example is the following:

"If a ransom is demanded of him, then he shall give for the redemption of his life whatever is demanded of him" (Ex. 21.30).

The New Testament writers, primarily the apostle Paul, explain most fully the meaning of redemption, the payment of a ransom price and of substitution.

Four Greek words are used for redemption.  They are the following:

The word a0gora/zw comes from a0gora/ (agora) which was the market place or the mall in the ancient world.  It means “to purchase or buy from the market place.”  In the ancient world slaves were brought to the a0gora, put on the slave block, and traded or sold to the highest bidder.  The Scriptures that use this word are 1 Cor. 6.20; 7.23; 2 Pet. 2.1; Rev. 5.9-10.  Christ has bought us out of  the slave market of sin by paying the redemption price of his own blood.

The word e0cagora/zw is composed of the preposition e0kmeaning “out of” plus a0gora/zw .  It means to purchase or “buy out” or “ransom out.”   The word is intensive and emphasizes the buying "out".  The Scriptures Gal. 3.13; 4.5; Eph. 5.16; Col. 4.5).

The word lutro/w means to release or redeem by paying a ransom and is associated with the word lu/tron which means a "ransom price.”  The Scriptures using this word are 1 Pet.1.18-19; Tit. 2.14; Heb. 9.14).  It emphasizes the price paid and the resultant freedom. The price paid for us was the death and shed blood of Jesus Christ on the cross

The word a0polu/trwsij comes from the preposition a0po/ meaning “from” plus lu/trwsij, the noun form of lutro/w.  This word with the preposition means “the release effected by payment of ransom" (cf. Rom. 3.24, 8.23; 1 Cor. 1.30; Eph. 1.7, 14; Col. 1.14; Heb. 9.15).

The doctrine of redemption is composed of the causes of agent, instrument, object, and result.

• The agent of redemption is the Lord Jesus Christ who in His sinless person and by His death on the cross purchased our redemption (Eph. 1:7; Col. 1:14; Rom. 3:24).  As part of the work of reconciliation, God the Father removed the barrier separating us from him.
• The instrument of redemption is the blood and the cross of Jesus Christ (Eph. 1:7; 1 Pet. 1:18-19).  The blood was the purchase price of our redemption.  Christ died as the lamb of God as a sacrificial substitute for sinners.
• The object of redemption is man’s sin and slavery to sin.   The object of redemption is not simply man, but man’s problem of sin and his bondage to it (Eph. 1:7; Col. 1:14; Gal. 3:13).
• The results of redemption are forgiveness of sin (Eph. 1:7; Col. 1:14), deliverance from bondage to sin and the Law (Gal. 3:13), imputation and justification (Rom. 3:24; 2 Cor. 5:9), adoption as sons of God (Gal. 14:5-6), eternal inheritance (Heb. 9:15), and the capacity to glorify God (1 Cor. 6:20).

Many passages in the New Testament speak of Christ's sufferings under the idea of a ransom or price paid.  The idea from these texts is that of payment made for our redemption.  The debt against us is more than simply cancelled; it is fully paid.   Christ's blood or life, which he freely surrendered, is the "ransom" by which he delivered mankind from the slavery of sin and from its penalty of death.  Christ does not save by his power, teaching, example, moral influence, or any natural or mystical influence.  He saves by his death on the cross as a satisfaction to divine justice, as an expiation for sin, and as a ransom from the curse and authority of the law.

Scriptures on Redemption:

lu/tron

Matthew 20:28 "Even as the Son of man came not to be ministered unto, but to minister, and to give his life a ransom for many."

Mark 10:45 "For even the Son of man came not to be ministered unto, but to minister, and to give his life a ransom for many."

lutro/w

Luke 24:21 "But we trusted that it had been he which should have redeemed Israel: and beside all this, to day is the third day since these things were done."

Titus 2:14 "Who gave himself for us, that he might redeem us from all iniquity, and purify unto himself a peculiar people, zealous of good works."

1Peter 1:18 "Forasmuch as ye know that ye were not redeemed with corruptible things, as silver and gold, from your vain conversation received by tradition from your fathers;"

lu/trwsij

Luke 1:68 "Blessed be the Lord God of Israel; for he hath visited and redeemed his people,"

Luke 2:38 "And she coming in that instant gave thanks likewise unto the Lord, and spake of him to all them that looked for redemption in Jerusalem."

Hebrews 9:12 "Neither by the blood of goats and calves, but by his own blood he entered in once into the holy place, having obtained eternal redemption for us."

a0polu/trwsij

Luke 21:28 "And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh."

Romans 3:24 "Being justified freely by his grace through the redemption that is in Christ Jesus:"

Romans 8:23 "And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body."

1Corinthians 1:30 "But of him are ye in Christ Jesus, who of God is made unto us wisdom, and righteousness, and sanctification, and redemption:"

Ephesians 1:7 "In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;"

Ephesians 1:14 "Which is the earnest of our inheritance until the redemption of the purchased possession, unto the praise of his glory."

Ephesians 4:30 "And grieve not the holy Spirit of God, whereby ye are sealed unto the day of redemption."

Colossians 1:14 "In whom we have redemption through his blood, even the forgiveness of sins:"

Hebrews 9:15 "And for this cause he is the mediator of the new testament, that by means of death, for the redemption of the transgressions that were under the first testament, they which are called might receive the promise of eternal inheritance."

Hebrews 11:35 "Women received their dead raised to life again: and others were tortured, not accepting deliverance; that they might obtain a better resurrection:"

 a0gora/zw

1Corinthians 6:20 "For ye are bought with a price: therefore glorify God in your body, and in your spirit, which are God's."

1Corinthians 7:23 "Ye are bought with a price; be not ye the servants of men."

2Peter 2:1 "But there were false prophets also among the people, even as there shall be false teachers among you, who privily shall bring in damnable heresies, even denying the Lord that bought them, and bring upon themselves swift destruction."

Revelation 5:9 "And they sung a new song, saying, Thou art worthy to take the book, and to open the seals thereof: for thou wast slain, and hast redeemed us to God by thy blood out of every kindred, and tongue, and people, and nation;"

Revelation 14:3 "And they sung as it were a new song before the throne, and before the four beasts, and the elders: and no man could learn that song but the hundred and forty and four thousand, which were redeemed from the earth."

Revelation 14:4 "These are they which were not defiled with women; for they are virgins. These are they which follow the Lamb whithersoever he goeth. These were redeemed from among men, being the firstfruits unto God and to the Lamb."

e0cagora/zw

Galatians 3:13 "Christ hath redeemed us from the curse of the law, being made a curse for us: for it is written, Cursed is every one that hangeth on a tree:"

Galatians 4:5 "To redeem them that were under the law, that we might receive the adoption of sons."

Ephesians 5:16 "Redeeming the time, because the days are evil."

Colossians 4:5 "Walk in wisdom toward them that are without, redeeming the time."