What is the good news of the gospel?

The good news of the gospel is that God sent His Son, Jesus the Christ (Messiah) into the world to provide a way for sinful man to come back to God, or receive salvation and spend an eternity with Him in heaven instead of dying in a sinful state and spending an eternity suffering in the Lake of Fire.

Jesus Christ died on the cross of Calvary as a substitute (dying in your place) was buried and was resurrected the third day. In order to be accepted by God you have to accept Jesus Christ as your personal Savior. Jesus has told us in John 14:6, "I am the way, the truth , and the life. No one comes to the Father except through Me."