اللَّهُمَّ إِنِّي أَسْتَخِيرُكَ بِعِلْمِكَ ، وَأَسْتَقْدِرُكَ بِقُدْرَتِكَ ، وَأَسْأَلُكَ مِنْ فَضْلِكَ الْعَظِيمِ
فَإِنَّكَ تَقْدِرُ وَلَا أَقْدِرُ ، وَتَعْلَمُ وَلَا أَعْلَمُ ، وَأَنْتَ عَلَّامُ الْغُيُوبِ ،
اللَّهُمَّ إِنْ كُنْتَ تَعْلَمُ أَنَّ (هَذَا الأَمْرَ) خَيْرٌ لِي فِي دِينِي وَمَعَاشِي وَعَاقِبَةِ أَمْرِي ، فَاقْدُرْهُ لِي وَيَسِّرْهُ لِي ثُمَّ بَارِكْ لِي فِيهِ
وَإِنْ كُنْتَ تَعْلَمُ أَنَّ (هَذَا الأَمْرَ) شَرٌ لِي فِي دِينِي وَمَعَاشِي وَعَاقِبَةِ أَمْرِي ، فَاصْرِفْهُ عَنِّي وَاصْرِفْنِي عَنْهُ وَاقْدُرْ لِيَ الْخَيْرَ حَيْثُ كَانَ ثُمَّ أَرْضِنِي بِهِ
فَإِنَّكَ تَقْدِرُ وَلَا أَقْدِرُ ، وَتَعْلَمُ وَلَا أَعْلَمُ ، وَأَنْتَ عَلَّامُ الْغُيُوبِ ،
اللَّهُمَّ إِنْ كُنْتَ تَعْلَمُ أَنَّ (هَذَا الأَمْرَ) خَيْرٌ لِي فِي دِينِي وَمَعَاشِي وَعَاقِبَةِ أَمْرِي ، فَاقْدُرْهُ لِي وَيَسِّرْهُ لِي ثُمَّ بَارِكْ لِي فِيهِ
وَإِنْ كُنْتَ تَعْلَمُ أَنَّ (هَذَا الأَمْرَ) شَرٌ لِي فِي دِينِي وَمَعَاشِي وَعَاقِبَةِ أَمْرِي ، فَاصْرِفْهُ عَنِّي وَاصْرِفْنِي عَنْهُ وَاقْدُرْ لِيَ الْخَيْرَ حَيْثُ كَانَ ثُمَّ أَرْضِنِي بِهِ
Translation 
On the authority of Jabir Ibn Abdullah, he said, “The Prophet (peace and blessings of Allah be upon him) would instruct us to pray for guidance in all of our concerns, just as he would teach us a chapter from the Quran.”
He (peace and blessings of Allah be upon him) would say, If any of you intends to undertake a matter then let him pray two supererogatory units (two rakaah nafilah) of prayer and after which he should supplicate:
O Allah, I seek Your counsel by Your knowledge and by Your power I seek strength and I ask You from Your immense favour,
For indeed You are able while I am not and You know while I do not and You are the Knower of the unseen.
O Allah, if You know (this affair) - or you may mention your need now - to be good for me in relation to my religion, my life, and end, then decree and facilitate it for me, and bless me with it,
And if You know this affair to be ill for me in my religion, my life, and my end, then remove it from me and remove me from it, and decree for me what whatever is good wherever it may be and make me satisfied with it.
Notes:
*One who seeks guidance from his Creator, consults his fellow believers and then remains firm in his resolve does not regret, for Allah has said:
“…and consult them in the affair. Then when you have taken a decision, put your trust in Allah...”
*Al-Istikharah dua is to be said after intention was already made to do something where guidance of Allah is needed here to ease the path towards achieving this intended matter if it was beneficial for the individual, and not (as understood by many) to choose between two matters, when unsure.
He (peace and blessings of Allah be upon him) would say, If any of you intends to undertake a matter then let him pray two supererogatory units (two rakaah nafilah) of prayer and after which he should supplicate:
O Allah, I seek Your counsel by Your knowledge and by Your power I seek strength and I ask You from Your immense favour,
For indeed You are able while I am not and You know while I do not and You are the Knower of the unseen.
O Allah, if You know (this affair) - or you may mention your need now - to be good for me in relation to my religion, my life, and end, then decree and facilitate it for me, and bless me with it,
And if You know this affair to be ill for me in my religion, my life, and my end, then remove it from me and remove me from it, and decree for me what whatever is good wherever it may be and make me satisfied with it.
Notes:
*One who seeks guidance from his Creator, consults his fellow believers and then remains firm in his resolve does not regret, for Allah has said:
“…and consult them in the affair. Then when you have taken a decision, put your trust in Allah...”
*Al-Istikharah dua is to be said after intention was already made to do something where guidance of Allah is needed here to ease the path towards achieving this intended matter if it was beneficial for the individual, and not (as understood by many) to choose between two matters, when unsure.
Transliteration
allaahumma innee astakheeruka bi-‛ilmik, wa astaqdiruka bi-qudratik, wa as’aluka min faḍlik-al-‛aẓeem,
fa innaka taqdiru wa laa aqdir, wa ta‛lamu wa laa a‛lam, wa anta ‛allaam-ul-ghuyoob,
allaahumma in kunta ta‛lamu anna (haadhal-amra) khayrun lee fee deenee wa ma‛aashee wa ‛aaqibati amree, faqdurhu lee wa yassirhu lee, thumma baarik lee feeh,
wa in kunta ta‛lamu anna (haadhal-amra) sharrun lee fee deenee wa ma‛aashee wa ‛aaqibati amree, faṣrifhu ‛annee waṣ-rifnee ‛anhu waqdur liyal-khayra ḥaythu kaana, thumma arḍinee bih
fa innaka taqdiru wa laa aqdir, wa ta‛lamu wa laa a‛lam, wa anta ‛allaam-ul-ghuyoob,
allaahumma in kunta ta‛lamu anna (haadhal-amra) khayrun lee fee deenee wa ma‛aashee wa ‛aaqibati amree, faqdurhu lee wa yassirhu lee, thumma baarik lee feeh,
wa in kunta ta‛lamu anna (haadhal-amra) sharrun lee fee deenee wa ma‛aashee wa ‛aaqibati amree, faṣrifhu ‛annee waṣ-rifnee ‛anhu waqdur liyal-khayra ḥaythu kaana, thumma arḍinee bih
