While it is true that Christians do not live under the law of the Old Testament, still it has great value for us.
For one thing the Old Testament scriptures testify of Christ. On one occasion Jesus said, “Search the scriptures; for in them ye think ye have eternal life: and they are they which testify of me.” (John 5:39) Paul regularly used the Old Testament scriptures to demonstrate that Jesus was the Christ. Luke writes: “And Paul, as his manner was…reasoned with them out of the scriptures, opening and alleging…that this Jesus whom I preach unto you, is Christ.” (Acts 17:2-3) The apostle Peter after giving his own personal testimony of what he had seen as proof added this: “We have a more sure word of prophecy.” (2 Peter 1:19) Even unto this day the Old Testament scriptures stand as one of the great proofs of Christianity.
It is certainly true that we do not live under the law of the Old Testament (Galatians 3:24-25), but nevertheless the Old Testament is of great value to the Christian. The apostle Paul wrote, “Whatsoever things were written aforetime were written for our learning, that we through patience and comfort of the scriptures might have hope.” (Romans 15:4) We must never neglect the study of the Old Testament.