What does 1 Peter 2:24 mean?

In the previous verse, Peter described Jesus' refusal to retaliate against those who mistreated Him. Jesus chose this path because He trusted the Father to be the just judge, to make all things right. Jesus suffered for doing good, without fighting back, so He could fulfill His purpose. Verse 24 describes exactly what that purpose was.

If Jesus had not willingly endured unjust suffering, we would have remained lost in our sin. Instead, Jesus bore, or "carried," our sins on the cross. He actually died in order to pay the penalty for our sinful actions. He became our substitute, dying the death we deserved. God, the one who judges justly (1 Peter 2:23) judged Christ for our sin in that moment, pouring out His wrath on His own Son to satisfy the payment for our sin. He endured suffering so we could die to sin. In that action, by God's grace and through our faith in Christ, we have been freed. Believers are free from the price of our own sin, and from the power of sin to poison our choices. Now, thanks to Jesus' suffering, Christians can live righteously. We don't have to sin; we are free to make right choices that please and honor our God (1 Corinthians 10:13).

The verse ends by quoting Isaiah 53:5, a profound play on words. As Christians, we have been healed from the penalty and power of our sin by Christ's wounds, by His death in our place, by His suffering for our good. The wounds—the suffering—of Jesus are the means by which Christians are healed—forgiven by God for our sins. This reference is not about physical conditions, but our spiritual destiny.