We have followed Jesus from His grand entrance to the cross as the shouts of Hosanna quickly turned into shouts to "crucify Him!" He was betrayed and condemned by the Sanhedrin and they crucified Him between two malefactors where He bore the wrath of God and where He died both a spiritual death (the Atoning death) and a physical one. Now we look at that beautiful crossword "It is Finished."
What: He uses the pronoun "IT." His life is close to being over most would say at this moment but do NOT go in this direction. We don't hear defeat from Jesus here, but we instead hear a VICTORY cry! We do not have a man that is a luminary crucified by political corruptness, but we must see who speaks these words. It is the VICTOR who speaks these words as He has accomplished what which has eternal roots and ramifications! An endeavor with zeal that He was about His Father's business. The devil must have been ringing his hands in glee briefly but it was Christ's victory. It was a completion of His Father's will in eternal redemption! Peter puts these events four-squarely in the midst of God's eternal council like we read in Galatians 4 and Romans 8. There is no condemnation in our Lord Jesus Christ and creation was subjected that the creation may live in hope as He had determined in His whole council and will. He accomplishes EVERYTHING lifting us and creation to glorious liberty!
How: As the Son of God. It could not be done any other way! We were not able to keep the law and He FULFILLS it! Christ, assuming our flesh was able to take that law to the depths of hell and fulfill it for us. Born of the virgin Mary yet able to sustain the FULL burden of God's wrath against OUR sin. He drank that His tongue might be loosed specifically to cry this very victory cry!
Our benefit: Understand how intensely personal these things are. Your and my sin...ALL of them with eternal consequences...were taken off our shoulders and were forgiven....FULLY forgiven! Read your Lord's supper form...that we might be the redemption of God in our Lord Jesus Christ. A victory cry that He finished it! So that you and I may know here below that these things in the valley of death can no longer touch us! No condemnation....ZERO....for those in Christ Jesus.
He finished it given us an inheritance that is FOREVERMORE! How can you not have overwhelming joy in your heart?