تَبَارَكَ ٱلَّذِى نَزَّلَ ٱلْفُرْقَانَ عَلَىٰ عَبْدِهِۦ لِيَكُونَ لِلْعَٰلَمِينَ نَذِيرًا
Asad Quran Translation
HALLOWED is He who from on high, step by step, has bestowed upon His servant the standard by which to discern the true from the false,1 so that to all the world it might be a warning:
Almost all the commentators give this meaning to the term al-furqan. In the above context it denotes the Qur'an as well as the phenomenon of divine revelation as such. (For an amplified interpretation of this term by Muhammad 'Abduh, see note  on 2:53.) The verbal form nazzala implies gradualness both in time ("successively") and in method ("step by step").
Malik Quran Translation
Blessed is the One Who has revealed Al-Furqan (the criterion to distinguish right from wrong: The Qur'an) to His servant, that he may be a Warner to the worlds;
Yusuf Ali Quran Translation
Blessed is He Who sent down the Criterion to His servant that it may be an admonition to all creatures 3052 3053 3054
Tabaraka: the root meaning is "increase" or "abundance". Here that aspect of Allah's dealing with His creatures is emphasised, which shows His abundant goodness to all His creatures, in that He sent the Revelation of His Will, not only in the unlimited Book of Nature, but in a definite Book in human language, which gives clear directions and admonitions to all. The English word "blessed" hardly conveys that meaning, but I can find no other without departing far from established usage. To emphasise the meaning I have explained, I have translated "Blessed is..." but "Blessed be..." is also admissible, as it brings out another shade of meaning, that we praise and bless His holy name.
That by which we can judge clearly between right and wrong. Here the reference is to the Qur-an, which has already been symbolised by light. This symbol is continued here, and many contrasts are shown, in the midst of which we can distinguish between the true and the false by Allah's Light, especially the contrast between righteousness and sin.
The pronoun in yakuna may refer either to Furqan (the Criterion) or to 'Abd (the holy Prophet). In either case the ultimate meaning is the same. The Qur-an is the standing Criterion for judgment between right and wrong.
Piktal Quran Translation
Blessed is He Who hath revealed unto His slave the Criterion (of right and wrong), that he may be a warner to the peoples.
Tabaraka allathee nazzala alfurqana AAala AAabdihi liyakoona lilAAalameena natheeran