Just before Jesus died He cried out this prayer. “Father, into Your hands I commit My Spirit… It is finished.” Note that I have combined the two phrases, because Jesus prayed them both. But only the first phrase was recorded in Luke’s gospel and only the second phrase was recorded in John’s gospel.
And when Jesus had cried out with a loud voice, He said, “Father, ‘into Your hands I commit My spirit.’” Having said this, He breathed His last.
So when Jesus had received the sour wine, He said, “It is finished!” And bowing His head, He gave up His spirit.
We can be sure that He prayed both phrases; however, we really can’t be sure what order they were prayed in, or how far apart.
Here is Jesus’ last prayer, prayed not so much for Himself but for us. He wanted us to hear this prayer so that we would know and have a record that He willingly gave up His own soul (Jn. 10:18), committing Himself to God.
It is also fascinating that the words it is finished carries the idea of fulfilling one’s task—as Jesus did. Likewise, the single Greek word translated it is finished was used in that time and placed on receipts, which meant paid in full. Hence, Jesus did indeed pay the full price for our sins, and He victoriously declared it to us with His last breath on the cross.