What does Genesis 46:1 mean?

Earlier in his life, Jacob was renamed by God, using the word Israel (Genesis 35:10). This title is used here, as Jacob prepares to leave the Promised Land to escape starvation. Jacob and his large, extended family are moving from their home in Hebron in the land of Canaan to Egypt. He has just learned the son he thought was dead (Genesis 37:31–34) is alive. Joseph is thriving as the second-in-command of the entire nation of Egypt (Genesis 41:44; 45:26). In addition, Joseph has insisted Jacob's family move and settle in a fertile area of Egypt to survive the severe famine in the land (Genesis 45:16–20). This plan has been endorsed by the ruler of Egypt, known by the title Pharaoh.

Jacob has agreed to the plan (Genesis 45:27). First, he stops at Beersheba (Genesis 26:33) before leaving the Promised Land of Canaan for what he assumes will be the last time. He is 130 years old. Beersheba is a significant spot in the land God had promised to Abraham, Isaac, Jacob, and their descendants. Abraham had planted a tree there and called on God's name (Genesis 21:33) before settling down and living there (Genesis 22:19). God appeared to Isaac, Jacob's father, at Beersheba, as well, giving him promises of blessing and many offspring (Genesis 26:23–25). Isaac built an altar to the Lord and prayed to God there, as well. Jacob himself had been to Beersheba on his way out of the land of Canaan, when running for his life from his twin brother Esau (Genesis 28:10).

Now he returns many years later, again preparing to leave the land of Canaan. This time, he builds an altar and offers animal sacrifices to "the God of his father Isaac."