Fetching details from the dictionary...

to set free; to let go; to release
to miss (e.g. a chance); to lose; to let get away; to fail to catch
犯人を逃がしてしまったのは失敗だ。
It was a failure to let the criminal escape.
せっかくのチャンスを逃がしてしまった。
I let a precious opportunity slip away.
魚が大きすぎて網から逃がしてしまう。
The fish was too big and escaped from the net.