A covenant is a sacred agreement between God and a person or group of people. God sets specific conditions, and He promises to bless us as we obey those conditions. When we choose not to keep covenants, we cannot receive the blessings, and in some instances we suffer a penalty as a consequence of our disobedience.
All the saving ordinances of the priesthood are accompanied by covenants. For example, we make a covenant when we are baptized, and we renew that covenant each time we partake of the sacrament (see Mosiah 18:8-10; D&C 20:37, 77, 79). Those who have received the Melchizedek Priesthood have entered into the oath and covenant of the priesthood (see D&C 84:33-44). The temple endowment and the sealing (marriage) ordinance also include sacred covenants.
Covenants mark the path back to God. Learn what's next on the path for you.
—See True to the Faith (2004), 44