In reality, although this phrase may sound or feel like incorrect English, on Easter Sunday English-speaking Christians say this instead of saying, "He has risen."
Grammatical archaicisms linking to verb conjugations in French and German for verbs of movement today, in connection with English verbs as they would have been used in the 16th and 17th centuries, are the root of this difference. "Er ist auferstanden," and "Il est ressuscité," both use the word for "is," a form of the helping verb to be.
English has long since abandoned this form, instead opting for the modern helping verb "has," a form of the helping verb to have.
