The psalm opens with an invitation to give thanks to the Lord and sing praises to the Most High. It is good to declare his steadfast love in the morning and his faithfulness by night, with stringed instruments and the lyre. The psalmist is glad because of God's work and the deeds of his hands.
He then reflects on how deep God's thoughts are. The senseless man and the fool do not understand: the wicked sprout like grass and evildoers flourish, but only to be destroyed forever. Meanwhile the Lord is on high forever, and his enemies will perish and be scattered.
The psalmist has seen God act for him: he has exalted his strength like that of a wild ox and anointed him with fresh oil, and he has seen with his own eyes the downfall of his foes. The psalm ends with a picture of the righteous: they flourish like the palm tree, grow like a cedar of Lebanon, are planted in the house of the Lord and still bear fruit in old age, declaring that the Lord is upright, that he is their rock and that there is no unrighteousness in him.