From H.P.Blavatsky - Teopedia
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Arahat (Sk.). Also pronounced and written Arhat, Arhan, Rahat, &c., “the worthy one”, lit., “deserving divine honours”. This was the name first given to the Jain and subsequently to the Buddhist holy men initiated into the esoteric mysteries. The Arhat is one who has entered the best and highest path, and is thus emancipated from rebirth.

Source: H.P.Blavatsky - The Theosophical Glossary