イ エ ユ イ
ノ ボ メ ノ
レ ン ミ リ
ヨ ジュ ヨ ゴ

ハ サ テ カ ナ エ
ク タ マ エ

Inori no Uta

I E YU I
NO BO ME NO
RE N MI RI
YO JU YO GO

HA SA TE KA NA E
KU TA MA E

The Hymn of the Fayth

Pray, Yu Yevon
Dream, Fayth
Eternally, grant prosperity

Translation Notes

"The Hymn of the Fayth" - This is what the song is known as in the English version of the story. The literal translation is "Song of Prayer."
"Pray, Yu Yevon; Dream, Fayth" - To get this meaning, simply read the first half of the song up and down, left to right, syllable by syllable. You get "Inore yo, EBON JU; yumemi yo, inorigo" (祈れよ エボン=ジュ 夢見よ 祈り子). EBON JU is known as Yu Yevon in the English version, and inorigo are known as fayth.
"Eternally, grant prosperity" - This one's fun. First, take the lyrics "HA SA TE KA NA E KU" and read every other syllable. You get "hatenaku" and "sakae." Now, combine the remaining lyrics, "TAMAE." The whole thing is now "Hatenaku, sakae tamae," (果てなく 栄え給え) which translates into what's written.