This verse proclaims Christ's role as the giver of eternal life to all who believe. In this verse, Jesus is also referred to by the second of John's seven names for Him: "The Light." The term "light" implies a revealing, as well as knowledge and awareness. Not only does He reveal mankind's sinfulness, but He also illuminates a path towards salvation.
All life is founded on and superstructure upon the living God. All light comes from Jesus, so there is no darkness in Him at all. Because of His life, the people who walked in darkness have seen a great light. Christ is the light that illuminates every man who comes into the world, dispelling the darkness and enabling entrapped humanity to see the brightness of God's grace.
Our Lord Jesus is the Creator of not only our physical life, which we inherited from Adam and Eve but also of our new, spiritual, eternal life, which we have received by grace through faith in Him. We can walk in the eternal light, wisdom, holiness, and love of Christ because His eternal life is poured into the hearts of those who are redeemed by His blood, declared righteous by faith, indwelt by His Spirit, and made into a new creation.

Dear Heavenly Father, how grateful I am for the life of the Lord Jesus. Thank You for saving me from darkness, illuminating the path towards salvation and bringing me into Your glorious kingdom of light. My new life in Christ is a blessing from You. Each day, please help me to live in a way that pleases You, laying down my self-life on the Cross, and living in spirit and truth to Your praise and glory. 
In Jesus's name I pray. Amen.