Meaning:
Paśyannātmani māyayā bahirivodbhutaṁ yathā nidrayā .
Yaḥ sākṣātkurute prabodhasamaye svātmānam-evādvayaṁ
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye .. 1..
The universe, like a city in mirror, is within oneself. But by the power of Maya, one sees the world manifested outside, like a dream. To him who shows the unparalleled self on waking up from this dream, to that Dakshinamurti , the teacher, I offer my salutations.
Bījasyāntarivāṅkuro jagadidaṁ prāṅ-nirvikalpaṁ punaḥ
Māyākalpita-deśakālakalanā-vaicitrya-citrīkṛtam .
Māyāvīva vijṛmbhayatyapi mahāyogīva yaḥ svecchayā
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye.. 2..
The universe, in the beginning, was latent like the sprout in a seed. By the order of Maya, it was made into a variety of forms by space and time. To him who expands himself, like a magician or a yogi, by his own will, to that Dakshinamurti , the teacher, I offer my salutations.
Yasyaiva sphuraṇaṁ sadātmakamasat-kalpārthakaṁ bhāsate
Sākṣāt-tattvamasīti vedavacasā yo bodhayatyaaśritān .
Yatsākṣātkaraṇād-bhavenna punarāvṛttir-bhavāmbhonidhau
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye .. 3..
To him, whose radiance illumines the lifeless forms making them living, who enlightens his devotees with the Vedic utterance "You are that", and by knowing whom there is no return to the ocean of birth and death, to that Dakshinamurti, the teacher, I offer my salutations.
Jñānaṁ yasya tu cakṣurādi-karaṇadvārā bahiḥ spandate .
Jānāmiiti tameva bhāntam-anubhātyetat-samastaṁ jagat
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye .. 4..
To him, whose light shines, like a lamp placed in a pot with holes, through the senses like the eyes, and illumines the world by saying "I know", to that Dakshinamurti, the teacher, I offer my salutations.
Dehaṁ prāṇamapīndriyāṇyapi chalāṁ buddhiṁ ca shūnyaṁ viduḥStrībālāndha-jaḍopamāstv-ahamiti bhrāntā bhṛshaṁ vādinaḥ .
Māyāśakti-vilāsakalpita-mahāvyāmoha-saṁhāriṇe
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye .. 5..
Some philosophers think that the body, the senses, life, the intellect and non-existence is the real `I', and are like women, children, the blind and the dull in their pointless arguments. To him who destroys this delusion caused by Maya, to that Dakshinamurti, the teacher, I offer my salutations.
Rāhugrasta-divākarendu-sadṛsho māyāsamācchādanātSanmātraḥ karaṇopasaṁharaṇato yo'bhūtsuṣuptaḥ pumān .
Prāgasvāpsamiti prabodhasamaye yaḥ pratyabhijñāyate
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye .. 6..
Like the eclipsed sun and the moon, covered by Maya, one sleeps after withdrawing his senses into that self. To him who on awakening makes one realize that "I was sleeping before", to that Dakshinamurti, the teacher, I offer my salutations.
Bālyādiṣvapi jāgradādiṣu tathā sarvāsvavasthāsvapi
Vyāvṛttāsvanuvartamānam-ahamityantaḥ sphurantaṁ sadā .
Svātmānaṁ prakaṭīkaroti bhajatāṁ yo mudrayā bhadrayā
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye .. 7..
To him, who throughout all states of being-such as childhood,etc., waking and sleep-shines inside us as the self, and illumines himself by showing the Chin Mudra, to that Dakshinamurti, the teacher, I offer my salutations.
Viśvaṁ paśyati kāryakāraNatayā svasvāmisambandhataḥ
Śiṣyācāryatayā tathaiva pitṛputrādyātmanā bhedataḥ .
Svapne jāgrati vā ya eṣa puruṣo māyāparibhrāmitaḥ
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye .. 8..
One sees this world in terms of cause and effect, in terms of the relationship between one and one's master, one' teacher, one's father and one's son. To him who confuses man by his Maya, to that Dakshinamurti, the teacher, I offer my salutations.
Bhūr-ambhāṁsyanalo'nilo'mbaram-aharnātho himāṁśuḥ pumān
Ityābhāti carācarātmakamidaṁ yasyaiva mūrtyaṣṭakam .
Nānyatkiñcana vidyate vimṛśatāṁ yasmāt parasmādvibhoḥ
Tasmai śrīgurumūrtaye nama idaṁ śrīdakṣiṇāmūrtaye .. 9..
To him, who shines in the universe through his eight forms-Earth, Water, Fire, Air, Space, Sun, Moon and Man; and beyond whom there is none for the seekers, to that Dakshinamurti, the teacher, I offer my salutations.
Sarvātmatvamiti sphuṭīkṛtamidaṁ yasmādamuṣmin stave
Tenāsya shravaṇāt tadarthamananāt dhyānācca saṅkīrtanāt .
Sarvātmatva-mahāvibhūtisahitaṁ syādīśvaratvaṁ svataḥ
Siddhyettat punaraṣṭadhā pariṇataṁ caishvaryam-avyāhatam .. 10..
This hymn points out that everything is the Self. By hearing, contemplating on, meditating on and singing this hymn, one attains the state of oneness with the Self and gains divine qualities on his own. His merit is increased eight-fold and he gets uninterrupted prosperity.
This hymn was composed by Adi Shankara.
Notes
This is a hymn to Shiva in the form of Dakshinamurti, the teacher facing south. It is a concise rendering of the teachings of the Vedas and an expression of gratitude to Him who makes one realize these truths.
The form of Dakshinamurti is shown to be facing south. In Vedic philosophy, south is the direction of death, and hence Dakshinamurti is one who accepts death and change with open arms. Of all Hindu Gods, he is the only one who always faces south. He is seated under a banyan tree, surrounded by sages waiting to receive instruction from him. He holds the damaru or hand drum, symbolising creation of knowledge, and fire, symbolising the destruction of ignorance. He also holds the Vedas in his hand and holds the other hand in the Chinmudra gesture. The Chinmudra gesture symbolises the awakening of knowledge in the mind. The Dakshinamurti form is considered to be the source of all knowledge.