He will deliver his soul - He will do that to every individual penitent sinner which he has promised in his word to do for a lost world - he will deliver his soul from going down to the pit of hell.
And his life shall see the light - He shall walk in the light, as Christ is in the light; always enjoying a clear sense of his acceptance through the blood of the Lamb. See another mode of paraphrasing these verses at the end of the chapter.
He will deliver his soul - Margin, “He hath delivered my soul.” There are various readings here in the text, which give rise to this diversity of interpretation. The present reading in the text is נפשׁי nepheshay - “my soul”; and according to this, it is to be regarded as the language of the sufferer celebrating the mercy of God, and is language which is connected with the confession in the previous verse, “I have sinned; I found it no advantage; and he hath rescued me from death.” Many manuscripts, however, read נפשׁו nepheshô - “his soul”; and according to this, the language would be that of Elihu, saying, that in those circumstances God would deliver him when he made suitable confession of his sin. The sense is essentially the same. The Vulgate has, “He will deliver his soul;” the Septuagint, “Save my soul.”
From going into the pit - Notes Job 33:18.
And his life shall see the light - Here there is the same variety of reading which occurs in regard to the word soul. The present Hebrew text is (חיתי chayātay ) “my life”; many manuscripts read (חיתו chayātô ), “his life.” The phrase “to see the light” is equivalent to live. Death was represented as going down into regions where there was no ray of light. See Job 3:5; Job 10:21-22.