The year of jubilee was the fiftieth year in the Jewish religious calendar as it followed the completed series of seven sabbath years or 49 years (Leviticus 25:1-8). It was heralded on the day of atonement by the sounding of "jubilee" (Heb. yobel), i.e., a "ram's horn" or a trumpet made in the shape of a ram's horn (Leviticus 25:9; cf. 16:29-30). The year of jubilee provided Israel with a time of release and rest (Leviticus 25:10-12). Like the Sabbath years of rest, it was to be observed "to the Lord" with celebration and trust that God would provide food as He promised (Leviticus 25:2-7, 11-12, 18-22). The release included the reversion of land to its original owners, cancellation of all debts, and freedom for all Israelites in servitude.
This topic is from the Lockman Foundation.