In classic dispensationalism, there are seven dispensations. It is important to remember that dispensationalism is a theology inferred from Scripture rather than an explicitly taught doctrine of God’s Word. The value of dispensationalism lies in its systematic view of history’s different eras and the various ways in which the Ancient of Days interacts with His creation.
The seventh and final dispensation brings about the culmination of life on Earth and the closest thing yet to how God really wanted to live with us on this planet. As its name suggests, the Millennial Kingdom of Christ will last for 1,000 years.
The Millennial Kingdom is the seventh dispensation (Revelation 20:1–10).
Stewards: The resurrected Old Testament saints, the glorified Church, and survivors of the Tribulation and their descendants The Period: From the Second Coming of Jesus Christ until the final rebellion, a period of one thousand years Responsibility: To be obedient, remain undefiled, and worship the Lord Jesus (Isaiah 11:3–5; Zechariah 14:9) Failure: After Satan is loosed from the Abyss, sinful man rebels one more time (Revelation 20:7–9) Judgment: Fire from God; the Great White Throne Judgment (Revelation 20:9–15) Grace: Jesus Christ restores creation and rules righteously in Israel, with all saints assisting (Isaiah 11:1–5; Matthew 25:31–46; Revelation 20)
The Millennial Kingdom will be a time characterized by peace (Isaiah 11:6–7; Micah 4:3), justice (Isaiah 11:3–4), unity (Isaiah 11:10), abundance (Isaiah 35:1–2), healing (Isaiah 35:5–6), righteousness (Isaiah 35:8), joy (Isaiah 55:12), and the physical presence of Christ (Isaiah 16:5). Satan will be bound in the Abyss during this period (Revelation 20:1–3). Messiah Jesus will be the benevolent dictator ruling over the whole world (Isaiah 9:6–7; 11). The resurrected saints of all times will participate in the management of the government (Revelation 20:4–6).
The Millennial Kingdom is measurable and comes after the Kingdom of God (embodied in Jesus Christ) came to man during the dispensation of Grace. On Jesus’ first visit to the earth, He brought grace; at His Second Coming He will execute justice and usher in the Millennium. Jesus mentioned His glorious return at His trial before the Sanhedrin (Mark 14:62), and He was referring to the Millennial Kingdom when He taught His disciples to pray, “Thy kingdom come” (Matthew 6:10, KJV).
The rebellion at the end of the Millennial Kingdom seems almost incredible. Mankind will have been living in a perfect environment with every need cared for, overseen by a truly just government (Isaiah 11:1–5), yet they still try to do better. Man simply cannot maintain the perfection that God requires. Mankind follows Satan any chance he gets.
At the end of the Millennium, the final rebellion is crushed, and Satan will be cast into the lake of fire (Revelation 20:10). Then comes the Great White Throne Judgment where all the unrighteous of all of the dispensations will be judged according to their works and also cast into the lake of fire (Revelation 20:11–15).
After the final judgment, God and His people live forever in the New Jerusalem on a new earth with a new heaven (Revelation 21). God’s plan of redemption will have been completely realized, and the redeemed will know God and enjoy Him forever.
 Got Questions Ministries. (2010). Got Questions? Bible Questions Answered. Bellingham, WA: Logos Bible Software.