Revelation 20:1-3  And I saw an angel coming down out of heaven, having the key to the Abyss and holding in his hand a great chain. 2 He seized the dragon, that ancient serpent, who is the devil, or Satan, and bound him for a thousand years. 3 He threw him into the Abyss, and locked and sealed it over him, to keep him from deceiving the nations anymore until the thousand years were ended. After that, he must be set free for a short time.

This is the most controversial and difficult part of Revelation to understand. This is the only place in the New Testament where there is any teaching on the millennium. My professor Rob Staples gives two critical questions in the Beacon Dictionary of Theology:

  1. What is the relation between the millennium and the second coming of Christ?
  2. How does one interpret apocalyptic literature in general and the reference to 1000 years in Rev. 20:1-7? Is this 1000 years literal, or is it figurative?

There are been three major views about this (see https://www.blueletterbible.org/faq/mill.cfm):

  1. Amillennialism: the 1000 years is symbolic
  2. Premillennialism: Jesus comes before the 1000 years
  3. Postmillennialism: Jesus comes after the 1000 years.

These opening verses indicate the temporary imprisonment of the dragon who is named as Satan. It is captured, bound, and thrown into the abyss which is sealed for 1000 years. It is not completely defeated yet. The dragon must be released for a short time. The purpose of this imprisonment is to prevent Satan from deceiving, not to punish it. There have been different positions about this passage:

  1. Satan is bound during the age of the church so that the mission goes on (more symbolic).
  2. More literal, Satan is completely out of the picture during the 1000 year reign.
  3. Figurative use of 1000, an undetermined time period (see Ps 50:10; 2 Pet 3:8).

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