Charles Ellicott Commentary Genesis 32:28

"And he said, Thy name shall be called no more Jacob, but Israel: for thou hast striven with God and with men, and hast prevailed." — Genesis 32:28 (ASV)

Israel. —That is, a prince of God, or, one powerful with God. (See Note on Genesis 17:15.) Esau had given a bad meaning to the name of Jacob, nor had it been undeserved. But a change has now come over Jacob’s character, and from now on he is no longer the crafty schemer who was always plotting for his own advantage, but one humble and penitent, who can trust himself and all he has in God’s hands. The last words signify, for you are a prince with God and men; or possibly, for you have striven with God and men.