This psalm is entitled, "To the chief Musician, a psalm for (margin, of) the sons of Korah." On the phrase "To the chief Musician," see the notes at the title to Psalm 4:1-8. On the phrase "For the sons of Korah," see the notes at the title to Psalm 42:1-11.
The occasion on which the psalm was composed, and the name of the author, are alike unknown. It is a triumphal psalm, and was composed apparently on some occasion of "victory" over enemies, with reference to a triumphal procession. Professor Alexander supposes that it was composed to commemorate the victory of Jehoshaphat over the Ammonites and Edomites, recorded in 2 Chr. 20. It is, as he remarks, a coincidence of some importance, that there is express mention made of the presence of the "Kohattlites" on that occasion, as among those who "stood up to praise the Lord," 2-Chronicles 20:19. This is not, however, decisive, as they might have been present on other similar occasions, and as it is probable, in fact, that they usually took part in celebrations of this kind. All that can be expressed with any certainty in regard to the occasion on which the psalm was composed is, that it was on an occasion of victory.
The psalm consists of two parts, quite similar in structure and in design. Each part consists of an exhortation to praise God, followed by a statement of reasons why, it should be done.
I. The first part comprises the first five verses:
(1) An exhortation to praise God - to celebrate the joy of the soul by a clapping of hands, and by a shout of triumph, Psalm 47:1.
(2) reasons for doing this, Psalm 47:2-5. These reasons are that he is terrible; that he is king over all the earth; that he will subdue the nations, and make them subject to his own people; and that, in anticipation of this, and in proof of this, he had now achieved a signal victory, and had gone up as from that victory to his own abode in heaven.
II. The second part embraces the Last four verses of the psalm:
(1) An exhortation, as before, to praise God, Psalm 47:6.
(2) reasons for this, Psalm 47:7-9. These reasons are, as before, that God is king over all the earth; that he now sits upon the throne of his holiness, and that Psalm 47:9 the princes of the nations - the subdued kings and rulers - are borne along in triumph to the people of the God of Abraham; and that in this victory it has been shown that the shields of the earth belong to God. See the notes at Psalm 47:9.
The psalm, therefore, is a triumphal ode, and was probably composed to be sung on occasion of some military triumph - some solemn procession on a return from battle, with captive princes marching in the procession, and with a display of the "shields" and other implements of war taken from the foe. All this is celebrated as indicative of the interposing power of God in victory, and as evidence of his purpose to protect his chosen people in time of peril. The psalm may yet be used in a higher sense by the church at large, when all the foes of God on earth shall be subdued, and when his kingdom shall be in fact set up over all the world.

The Gentiles are invited to celebrate the praises of God as the Sovereign of the world, Psalm 47:1, Psalm 47:2. The Jews exalt in his kindness to them, Psalm 47:3, Psalm 47:4. All then join to celebrate his Majesty, as reigniny over the heathen, and gathering the dispersed Jews and Gentiles together into one Church, Psalm 47:5-9.
The title, "A Psalm for the sons of Korah," has nothing remarkable in it. The Psalm was probably written about the same time with the preceding, and relates to the happy state of the Jews when returned to their own land. They renewed their praises and promises of obedienee, and celebrate him for the deliverance they had received. See the introduction to Psalm 46:1-11 (note). In a spiritual sense, it appears to relate to the calling of the Gentiles to be made partakers of the blessings of the Gospel with the converted Jews.

INTRODUCTION TO PSALM 47
To the chief Musician, A Psalm for the sons of Korah. Thus psalm is thought by some to be written on occasion of the ark being brought from the house of Obededom to the city of David, to the place he had prepared for it; which was attended with singing and dancing, with shouting, and the sound of a trumpet, 2-Samuel 6:12; but it rather seems to be penned on account of the ascension of Christ to heaven, prophetically spoken of in this psalm; and of the spread of the Gospel, and the conquests it made in the Gentile world upon Christ's ascension; as the whole psalm shows: and even Aben Ezra and Kimchi apply it to the times of the Messiah; and so do some of their most ancient writers, who particularly interpret Psalm 47:5 of him, as may be seen in the note upon it.

The people exhorted to praise God.

Exultation at the Lord's Triumphant Ascension
Whilst between Ps 45 and Psalm 46:1-11 scarcely any other bond of relationship but the similar use of the significant על־כּן can be discovered, Psalm 47:1-9 has, in common with Psalm 46:1-11, not only the thought of the kingly exaltation of Jahve over the peoples of the earth, but also its historical occasion, viz., Jehoshaphat's victory over the allied neighbouring nations, - a victory without a conflict, and consequently all the more manifestly a victory of Jahve, who, after having fought for His people, ascended again amidst the music of their celebration of victory; an event that was outwardly represented in the conducting of the Ark back to the temple (2-Chronicles 20:28). Psalm 47:1-9 has grown out of this event. The strophe schema cannot be mistaken, viz., 8. 8. 4.
On account of the blowing of the trumpet
(Note: In connection with which, עלה then is intended to point to the fact that, when the sound of the trumpets of Israel begins, God rises from the throne of justice and takes His seat upon the throne of mercy: vid., Buxtorf, Lex. Talmud. col. 2505.)
mentioned in Psalm 47:6, this Psalm is the proper new year's Psalm in the synagogue (together with Ps 81, the Psalm of the second new year's feast day); and on account of the mention of the ascension of Jahve, it is the Psalm for Ascension day in the church. Luther styles it, the "Christ ascended to Heaven of the sons of Korah." Paulus Burgensis quarrels with Lyra because he does not interpret it directly of the Ascension; and Bakius says: Lyranus a Judaeis seductus, in cortice haeret. The whole truth here, as is often the case, is not to be found on either side. The Psalm takes its occasion from an event in the reign of Jehoshaphat. But was the church of the ages succeeding required to celebrate, and shall more especially the New Testament church still celebrate, that defeat of the allied neighbouring peoples? This defeat brought the people of God repose and respect for a season, but not true and lasting peace; and the ascent at that time of Jahve, who had fought here on earth on behalf of His people, was not as yet the ascent above the powers that are most hurtful to His people, and that stand most in the way of the progress of salvation, viz., those powers of darkness which form the secret background of everything that takes place upon earth that is in opposition to God. Hence this Psalm in the course of history has gained a prophetic meaning, far exceeding its first occasion, which has only been fully unravelled by the ascension of Christ.