John Calvin 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)

Thy name shall be called no more Jacob. Jacob, as we have seen, received his name from his mother’s womb because he had seized the heel of his brother’s foot and had attempted to hold him back. God now gives him a new and more honorable name; not that He intends entirely to abolish the other, which was a token of memorable grace, but so that He might testify to a still higher progress of His grace.

Therefore, of the two names, the second is preferred to the former, as being more honorable. The name is derived from שרה(sarah) or שור (sur), which signifies “to rule,” as if he were called a Prince of God. For I have said earlier that God had transferred the praise of His own strength to Jacob, so that God might triumph through him. The explanation of the name, which is immediately added, is given literally by Moses: Because thou hast ruled with, or, towards God and towards man, and shalt prevail. Yet the sense seems to be faithfully rendered by Jerome: if Jacob acted so heroically with God, he would much more prove superior to men. For it was certainly God’s purpose to send His servant out to various struggles, inspired with the confidence resulting from so great a victory, so that he would not afterward waver. For God does not merely impose a name, as men are accustomed to do, but with the name He gives the thing itself which the name implies, so that the reality may correspond with it.