Many Fazail (virtues) of Qurbani have been mentioned in the Holy Quran and the Noble Hadith. A few of those have been listed below:
1) Allah SW says in the Holy Quran: “For every Ummah (religious community) We prescribed the act of sacrifice, so that they recite Allah’s name over the provision He gave them from the cattle…” (Surah Al Hajj, Ayat 34)
2) It is narrated by Hazrat Aisha (may Allah be pleased with her) that the Messenger of Allah (peace be upon him) said: "A human does no action from the actions on the day of Nahr more beloved to Allah than the shedding of blood (of sacrificial animals). On the Day of Judgement, it will appear with its horns, and hair, and hooves, and indeed the blood will be accepted by Allah from where it is received before it even falls upon the earth, so let your heart delight in it." (Sunan Tirmidhi, Hadith No. 1493)
3) It is narrated by Zaid bin Arqam (may Allah be pleased with him): The Companions of the Prophet (peace be upon) asked, "O Messenger of Allah! What is the Qurbani?" He replied, "It is the Sunnah (tradition) of your father Ibrahim (peace be upon him). They (the Companions) asked, "What will we gain by doing it?" He replied, "For every hair (of the sacrificial animal) there is a good deed." They asked, "And what about the wool?" He (ﷺ) replied, "For every fiber of wool there is a good deed." (Sunan Ibn Majah, Hadith No. 3127)