[…] The goat designated by lot for A·za′zel should be brought alive to stand before Jehovah in order to perform the atonement upon it, so that it may be sent away for A·za′zel into the wilderness.
~Leviticus 16:10

The word “Azazel” seems to come from two Hebrew words.

Na·saʼ′ can mean pardon, take away, carry and in this instance, disappear;ʽez means goat (Insight, vol. ii, “Pardon”).

In effect, Azazel means disappearing goat, scapegoat, or as the Greek Septuagint translates it, “the one averting evil,” (Insight, vol. i, “Azazel”).

The High Priest of Israel was to enter the Most Holy, that is, the compartment of the Tabernacle where the Ark of the Covenant was placed, only once a year.

There, he was to make atonement first for himself and his family, then for all of Israel (Lev. 16:12-16).

This occurred on the holiday known as Atonement Day.

This was the only day in which all of Israel was obligated to fast and ‘afflict their souls.’ They were prohibited from working on this day (Lev. 16:31).

There were two goats: one goat was sacrificed to Jehovah as a sin offering on behalf of the nation, and the other stood before Jehovah while the life of the sacrificed goat was symbolically transferred to the live goat through the blood it shed (Lev. 17:11).

Then the live goat was led away and set free in the wilderness, carrying off the nation’s sins, so to speak (Lev. 16:20-22).

The prophet Isaiah correctly applied this ceremony to what Christ was to do for mankind:

“Truly he himself carried our sicknesses,
And he bore our pains.
But we considered him as plagued, stricken by God and afflicted.
But he was pierced for our transgression;
He was crushed for our errors.
He bore the punishment for our peace,
And because of his wounds we were healed,”
(Isa. 53:4,5).

Therefor both goats represent one symbol: that of Christ shedding his blood for us, presenting it in Heaven before his Father, and through his atonement, carrying away the sins of repentant humanity (Heb. 9:11, 12).