The word gospel literally means “good news” and occurs 93 times in the Bible, exclusively in the New Testament. The gospel is, broadly speaking, the whole of Scripture; more narrowly, the gospel is the good news concerning Christ and the way of salvation.
The key to understanding the gospel is to know why it is good news. To do that, we must start with the bad news. The Old Testament Law was given to Israel during the time of Moses (Deuteronomy 5:1). The Law can be thought of as a measuring stick, and sin is anything that falls short of “perfect” according to that standard. The righteous requirement of the Law is so stringent that no human being could possibly follow it perfectly, in letter or in spirit. Despite our “goodness” or “badness” relative to each other, we are all in the same spiritual boat—we have sinned, and the punishment for sin is death, i.e. separation from God, the source of life, Romans 3:23 For everyone has sinned; we all fall short of God’s glorious standard. In order for us to go to heaven, God’s dwelling place and the realm of life and light, sin must be somehow removed or paid for. The Law established the fact that cleansing from sin can only happen through the bloody sacrifice of an innocent life, Hebrews 9:22, In fact, according to the law of Moses, nearly everything was purified with blood. For without the shedding of blood, there is no forgiveness.
The gospel involves Jesus’ death on the cross as the sin offering to fulfill the Law’s righteous requirement, Romans 8:3–4, The law of Moses was unable to save us because of the weakness of our sinful nature. So God did what the law could not do. He sent his own Son in a body like the bodies we sinners have. And in that body God declared an end to sin’s control over us by giving his Son as a sacrifice for our sins. 4 He did this so that the just requirement of the law would be fully satisfied for us, who no longer follow our sinful nature but instead follow the Spirit. Under the Law, animal sacrifices were offered year after year as a reminder of sin and a symbol of the coming sacrifice of Christ, Hebrews 10:3–4, But instead, those sacrifices actually reminded them of their sins year after year. 4 For it is not possible for the blood of bulls and goats to take away sins. When Christ offered Himself at Calvary, that symbol became a reality for all who would believe, Hebrews 10:11–18, 11 Under the old covenant, the priest stands and ministers before the altar day after day, offering the same sacrifices again and again, which can never take away sins. 12 But our High Priest offered himself to God as a single sacrifice for sins, good for all time. Then he sat down in the place of honor at God’s right hand. 13 There he waits until his enemies are humbled and made a footstool under his feet. 14 For by that one offering he forever made perfect those who are being made holy. 15 And the Holy Spirit also testifies that this is so. For he says, 16 “This is the new covenant I will make with my people on that day, says the Lord: I will put my laws in their hearts, and I will write them on their minds.” 17 Then he says, “I will never again remember their sins and lawless deeds.” 18 And when sins have been forgiven, there is no need to offer any more sacrifices. The work of atonement is finished now, and that’s good news.
The gospel also involves Jesus’ resurrection on the third day. “He was delivered over to death for our sins and was raised to life for our justification”, Romans 4:25, He was handed over to die because of our sins, and he was raised to life to make us right with God. The fact that Jesus conquered sin and death (sin’s penalty) is good news, indeed. The fact that He offers to share that victory with us is the greatest news of all, John 14:19, Soon the world will no longer see me, but you will see me. Since I live, you also will live.
The elements of the gospel are clearly stated in 1 Corinthians 15:3–6, a key passage concerning the good news of God: “3 I passed on to you what was most important and what had also been passed on to me. Christ died for our sins, just as the Scriptures said. 4 He was buried, and he was raised from the dead on the third day, just as the Scriptures said. 5 He was seen by Peter and then by the Twelve. 6 After that, he was seen by more than 500 of his followers at one time, most of whom are still alive, though some have died.” Notice, first, that Paul received the gospel and then passed it on; this is a divine message, not a man-made invention. Second, the gospel is “most important”. Everywhere the apostles went, they preached the crucifixion and resurrection of Christ. Third, the message of the gospel is accompanied by proofs: Christ died for our sins (proved by His burial), and He rose again the third day (proved by the eyewitnesses). Fourth, all this was done “just as the Scriptures said”; the theme of the whole Bible is the salvation of mankind through Christ. The Bible is the gospel.
“For I am not ashamed of the gospel, because it is the power of God that brings salvation to everyone who believes: first to the Jew, then to the Gentile.” Romans 1:16. The gospel is a bold message, and we are not ashamed of proclaiming it. It is a powerful message, because it is God’s good news. It is a saving message, the only thing that can truly reform the human heart. It is a universal message, for Jews and Gentiles both. And the gospel is received by faith; salvation is the gift of God, Ephesians 2:8–9, God saved you by his grace when you believed. And you can’t take credit for this; it is a gift from God. 9 Salvation is not a reward for the good things we have done, so none of us can boast about it.
The gospel is the good news that God loves the world enough to give His only Son to die for our sin, John 3:16, “For this is how God loved the world: He gave his one and only Son, so that everyone who believes in him will not perish but have eternal life. The gospel is good news because our salvation and eternal life and home in heaven are guaranteed through Christ, John 14:1–4, “Don’t let your hearts be troubled. Trust in God, and trust also in me. 2 There is more than enough room in my Father’s home. If this were not so, would I have told you that I am going to prepare a place for you? 3 When everything is ready, I will come and get you, so that you will always be with me where I am. 4 And you know the way to where I am going.” He has given us new birth into a living hope through the resurrection of Jesus Christ from the dead, and into an inheritance that can never perish, spoil or fade. 1 Peter 1:3–4, All praise to God, the Father of our Lord Jesus Christ. It is by his great mercy that we have been born again, because God raised Jesus Christ from the dead. Now we live with great expectation, 4 and we have a priceless inheritance—an inheritance that is kept in heaven for you, pure and undefiled, beyond the reach of change and decay.
The gospel is good news when we understand that we do not (and cannot) earn our salvation; the work of redemption and justification is complete, having been finished on the cross. Jesus is the propitiation (appeasement) for our sins, 1 John 2:2, He is the propitiation for our sins, and not for ours only but also for the sins of the whole world. The gospel is the good news that we, who were once enemies of God, have been reconciled by the blood of Christ and adopted into the family of God, Romans 5:10, For if, while we were God’s enemies, we were reconciled to him through the death of his Son, how much more, having been reconciled, shall we be saved through his life!; John 1:12, But to all who believed him and accepted him, he gave the right to become children of God.. “See what great love the Father has lavished on us, that we should be called children of God! And that is what we are!” 1 John 3:1.
To reject the gospel is to embrace the bad news. Condemnation before God is the result of a lack of faith in the Son of God, God’s only provision for salvation. 17 God sent his Son into the world not to judge the world, but to save the world through him. 18 “There is no judgment against anyone who believes in him. But anyone who does not believe in him has already been judged for not believing in God’s one and only Son. John 3:17–18. God has given a doomed world good news: the Gospel of Jesus Christ!
-Got Quastions.org