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Concept in Christian theology
the doctrine that Jesus Christ's sacrifice was a ransom

The ransom theory of atonement was a theory in Christian theology as to how the process of Atonement in Christianity had happened. It therefore accounted for the meaning and effect of the death of Jesus Christ. It was one of a number of historical theories, and was mostly popular between the 4th and 11th centuries, with little support in recent times. It originated in the early Church, particularly in the work of Origen. The theory teaches that the death of Christ was a ransom sacrifice, usually said to have been paid to Satan, in satisfaction for the bondage and debt on the souls of humanity as a result of inherited sin.

In Matthew 20:28, Jesus says "the Son of Man came to give his life as a ransom for many." 1 Timothy 2:6 states that Jesus "gave himself as ransom for all."

Origen of Alexandria, Gregory of Nyssa, and Augustine of Hippo taught views in line with the standard Ransom theory and the Liturgy of St. Basil the Great (celebrated ten times annually in the Byzantine Rite) speaks of Christ as a ransom unto death, other Church Fathers such as Gregory the Theologian vigorously denied that Christ was ransomed to Satan or any evil power, though he does not by any means deny that Christ was a ransom. In his Catechetical Orations, Cyril of Jerusalem suggests Christ's ransom was in fact paid to God the Father.

The Catechism of the Catholic Church, an authoritative summary of official Roman Catholic teaching, describes the ransom paid by Christ at Calvary as a "mystery of universal redemption", but does not make any indication regarding to whom it was paid, or even that it was paid to any particular being at all.

The alternative view arising in the Reformation, and argued by prominent reformers like Luther and Calvin, is penal substitution.

Gustaf Aulén (1879 1977), a Swedish bishop in the Lutheran Church of Sweden, reinterpreted the ransom theory as a victory of Christ over the powers of evil, instead of as a ransom.

In Adventism, all of humankind is considered to have inherited sin and death as a result of Adam's sin in the Garden of Eden. In this view, God's divine law requires that only the sacrificial death of a perfect human can atone for Adamic sin. Faith in the ransom of Jesus Christ—the Last Adam—is regarded as the only way to atone for sin and escape death. Jehovah's Witnesses and the Seventh day Adventist Church are among the denominations that hold to this view.