I will praise the name of God with a song,.... The "name" of God is himself, his perfections and attributes; which are to be "praised" by all his creatures, and especially his saints; and here by the Messiah, who sung the praise of God with his disciples at the supper, a little before his death; and in the great congregation in heaven, upon his ascension thither, having finished the great work of man's redemption.
For as it was no lessening of his glory, as Mediator, to pray to God when on earth, it is no diminution of it to praise him in our nature in heaven; see Ps 22:22. This being said to be done with a song agrees with Heb 2:12; and is an instance of praising God this way, and which could not be prayer wise; as well as is a confirmation of the practice of New Testament churches, singing psalms, hymns, and spiritual songs, by the example of our Lord;and will magnify him with thanksgiving: to "magnify" is to make great; but God cannot be greater than he is.
He is great above all gods; he is greater than all. But he is magnified when his greatness is owned and declared, and that is ascribed unto him; and particularly when "thanks" are given to him for favours; for then is he acknowledged by men to be the Father of mercies, the author and giver of them; and that they are unworthy of them, and that all the glory belongs to him.