Fyrr mun heimr ok himnar,
hugreifum Ôleifi,
— hann vas mennskra manna
mest gótt — í tvau bresta,
áðr an glíkr at góðu
gœðingr muni fœðask;
kœns hafi Kristr inn hreini
konungs ǫnd ofar lǫndum.
Heimr ok himnar mun fyrr bresta í tvau, áðr an gœðingr glíkr hugreifum Ôleifi at góðu muni fœðask; hann vas mest gótt mennskra manna; hafi Kristr inn hreini ǫnd kœns konungs ofar lǫndum.
Earth and heavens will sooner split in two before a chieftain equal to glad-hearted Óláfr in goodness might be born; he was the greatest good among human beings; may the pure Christ keep the soul of the wise king high above the lands.