Revelation 5:12-13: "12 saying with a loud voice, 'Worthy is the Lamb who was slain, to receive power and wealth and wisdom and might and honor and glory and blessing!' 13 And I heard every creature in heaven and on earth and under the earth and in the sea, and all that is in them, saying, 'To him who sits on the throne and to the Lamb be blessing and honor and glory and might forever and ever!'"
Genesis 22:7-8: "7 And Isaac said to his father Abraham, 'My father!' And he said, 'Here am I, my son.' He said, 'Behold, the fire and the wood, but where is the lamb for a burnt offering?' 8 Abraham said, 'God will provide for himself the lamb for a burnt offering, my son.' So they went both of them together."
1 Peter 2:24-25: "24 He himself bore our sins in his body on the tree, that we might die to sin and live to righteousness. By his wounds you have been healed. 25 For you were straying like sheep, but have now returned to the Shepherd and Overseer of your souls."
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The text from Genesis 22 appears in the first verse: "O Father, where's the sacrifice?... God will provide the Lamb of price!"
The text from 1 Peter seems to be the source for verses two through four, and it shows up most clearly in the fourth verse ("He takes my sin and wretchedness... He gives me His own righteousness") and part of the refrain ("the Lamb whose death makes me His own").
Most of the refrain is drawn from the text from Revelation. "Worthy is the Lamb" comes directly from verse 12 and "The Lamb is reigning on His throne" from verse 13. "Let earth join heav'n His praise to sing" in the hymn's second verse also comes from the Revelation text.
