In Acts 13:32–33, Paul teaches that the promise of a Davidic king who would rule forever (cf. Acts 13:22–23) has been fulfilled in part through the resurrection of Jesus. Since Jesus had been put to death (cf. Acts 13:26–29), God raised Him up in order for Ps 2:7 to remain true of Him: “You are my Son, today I have begotten you.”
Psalm 2:7 was written by David and could be applied to Himself. He had been begotten by God as His son in the sense that He was the king of Israel. This language echoes the covenant God promised to David concerning the kings of Israel in his line: “I will be to him a father, and he shall be to me a son” (2 Sam 7:14). Likewise, Ps 89:26–27 says of the Davidic king, “He shall cry to me, ‘You are my Father’…And I will make him the firstborn, the highest of the kings of the earth.” The greatest application of these words is obviously to the Lord Jesus Christ.
Psalm 2:7 is applied to Jesus multiple times in the NT. He was first announced as God’s kingly Son at Hs baptism. The Father declared from heaven, “This is my beloved son, with whom I am well pleased” (Matt 3:17; see also Mark 1:11 and Luke 3:22). With the addition of “beloved,” the first phrase of the Father’s words quotes Ps 2:7. The second phrase is a quotation of Isaiah 42:1, identifying Jesus as Isaiah’s suffering Servant.
At the Transfiguration, the Father again identified Jesus in terms of Ps 2:7 and Isa 42:1, adding Deut 18:15 as well—Jesus was the greater Prophet to come (Deut 18:15, “it is to him you shall listen”). The Father stated, “This is my beloved Son, with whom I am well pleased; listen to him” (Matt 17:5; see also Mark 9:7 and Luke 9:35).
Two NT letters mention Ps 2:7 as well. Peter recounts the Transfiguration in 2 Pet 1:17, and Heb 1:5 and 5:5 quote Ps 2:7 in application to Christ to show how He is superior to angels and the Levitical priests.
But, while Jesus has been announced as the Davidic king, He is yet to sit on David’s throne in Jerusalem. Just as David was anointed king and given the Spirit but waited for a time for his kingdom (cf. 1 Sam 16:1–13), so also Jesus was baptized, received the Spirit, and waits for a kingdom all His own as well (cf. Rev 3:21). The difference between David and Jesus, however, is that, while David was on the run from His enemies until he became king, Jesus currently sits enthroned with the Father over all things until He comes again to put down His enemies and take His earthly kingdom to Himself (Heb 10:12–13). When He does come, “then he will sit on his glorious throne” (Matt 25:31). What a glorious day for the Son that will be!