There are lots of opinions regarding what Peter meant, since some translations use the word “elements” instead of “heavenly bodies.” Ancient Greek literature used the term to refer to celestial bodies (sun, moon, and stars), to the physical things of this world (earth, wind, fire, water) or to supernatural spiritual powers that control the world.1 If Peter is alluding to Isaiah 34:4, then he has the celestial bodies in mind. These heavenly bodies will be destroyed together with the spiritual forces that influence evil on earth.2 However, the elements being placed in contrast with the heaven suggests that this term was used by Peter to refer instead to the totality of the material world. This is confirmed by the parallel of heaven and earth in 2 Peter 3:7, now we have heavens and elements in 2 Peter 3:10.3
10 But the day of the Lord will come like a thief, and then the heavens will pass away with a roar, and the heavenly bodies will be burned up and dissolved, and the earth and the works that are done on it will be exposed.