Allahumma inni astakheeruka bi ‘ilmika wa astaqdiruka bi qudratika wa asaluka min fadlika, fa innaka taqdiru wa la aqdir, wa ta’lamu wa la a’lam, wa anta ‘allam al-ghuyoob. Allahumma fa in kunta ta'lamu hadhal-amra (then the matter should be mentioned by name) khayran li fi ‘ajil amri wa ajilihi (or: fi deeni wa ma’ashi wa ‘aqibati amri) faqdurhu li wa yassirhu li thumma barik li fihi. Allahumma wa in kunta ta'lamu annahu sharrun li fi deeni wa ma’ashi wa ‘aqibati amri (or: fi ‘ajili amri wa ajilihi) fasrifni ‘anhu [wasrifhu ‘anni] waqdur li al-khayr haythu kana thumma raddini bihi
O Allah, I seek Your guidance [in making a choice] by virtue of Your knowledge, and I seek ability by virtue of Your power, and I ask You of Your great bounty. You have power, I have none. And You know, I know not. You are the Knower of hidden things. O Allah, if in Your knowledge, this matter (then it should be mentioned by name) is good for me both in this world and in the Hereafter (or: in my religion, my livelihood and my affairs ), then ordain it for me, make it easy for me, and bless it for me. And if in Your knowledge it is bad for me and for my religion, my livelihood and my affairs (or: for me both in this world and the next), then turn me away from it, [and turn it away from me], and ordain for me the good wherever it may be and make me pleased with it.
Reported by al-Bukhari, 6841; similar reports are also recorded by al-Tirmidhi, al-Nasai, Abu Dawood, Ibn Majah and Ahmad