The more excellent way of life is to be found only in Christ-believing in him, loving, praising and worshipping him, and following him by obedience to his commandments. He is the Way (see John 14:6), and only by living his life can we experience the “abundant life”- the more excellent way of life- he promised (see John 10:10).
The Apostle Paul used this same phrase to speak of charity, the pure love of Christ (see 1 Corinthians 12:31). And, of course, the greatest manifestation of the love of God is in the gift of his holy Son (see John 3:16; Ether 12:33-34; D&C 34:1-3).