Mahaganesha Pancharatnam is a devotional hymn composed by Sri Adi Shankaracharya on Lord Ganesha. It’s a sweet song that has potent meaning as well as literary magnificence.
One might want to listen to it, as rendered by MS Subbalakshmi before going through the text and understanding meaning.
According to Mahaperiyavaa.Blog, Kanchi Mahaperiyava once said “Remember, who has a modaka in his hand? Acharyal starts Ganesha Pancharatnam with the line stating Ganesha as the one who holds the divine joy as a Modaka in his hand, modakam = modak/ கொழுக்கட்டை (a sweet made with coconut and jaggery) – ” मुदाकरात्तमोदकं सदा विमुक्तिसाधकं “.
So, mangalam is Vinayakar. Elders used to make modaks at home during Chaturthi and Fridays to celebrate the importance of happiness booster modakam. Those who eat the favourite sweet of Vinayaka as Naivedya Prasadam never get dejected in this age of Kali.”
Given below is the text with Sanskrit lyrics and English meaning, obtained from GreenMesg.
मुदाकरात्तमोदकं सदा विमुक्तिसाधकं
कलाधरावतंसकं विलासिलोकरक्षकम् ।
नताशुभाशुनाशकं नमामि तं विनायकम् ॥१॥
Salutations to Sri Vinayaka, who holds the divine joy in his hand as modaka and who always strives to accomplish the liberation of his devotees towards that divine joy, who holds the digit of the moon as his ornament and with a joyful spirit protects the world, who is without any master but is himself the only master for his devotees, and protects them by destroying the (inner) demons, to those who surrender to him, he destroys the inauspicious tendencies quickly; I salute Sri Vinayaka and surrender to him.
नमत्सुरारिनिर्जरं नताधिकापदुद्धरम् ।
सुरेश्वरं निधीश्वरं गजेश्वरं गणेश्वरं
महेश्वरं तमाश्रये परात्परं निरन्तरम् ॥२॥
Salutations to Sri Vinayaka. To those who do not bow down to god out of arrogance, he takes a frightening form; his benign however form is like a newly-risen sun, who is always fresh without any decay, and is saluted reverentially by the devas and the devoted persons; who extricates those who surrender to him from difficult calamities, who is the god of the devas (sureshvara), who is the god of prosperity (nidhishvara), who is the god with an elephant face (gajeshvara) and who is the god of the ganas (celestial attendants) (ganeshvara), who is the great god (maheshvara); to his refuge, who is superior than the best, I continually place myself in devotional surrender.
दरेतरोदरं वरं वरेभवक्त्रमक्षरम् ।
कृपाकरं क्षमाकरं मुदाकरं यशस्करं
मनस्करं नमस्कृतां नमस्करोमि भास्वरम् ॥३॥
Salutations to Sri Vinayaka who is the auspicious power behind all the worlds and who removes the mighty (inner) demons, whose huge body signifies prosperity and boon-giving and whose most excellent face reflects his imperishable nature, who showers grace (kripakara), who showers forgiveness (kshamakara), who showers joy (mudakara) and who showers glory (yashaskara) to his devotees, who bestows intelligence and wisdom (manaskara) to those who salute him with reverence; I salute his shining form.
पुरारिपूर्वनन्दनं सुरारिगर्वचर्वणम् ।
कपोलदानवारणं भजे पुराणवारणम् ॥४॥
Salutations to Sri Vinayaka who wipes out the sufferings of the destitutes who take his refuge; who is the receptacle of the words of praises of the ancients, who is the former son (the latter being Kartikeya) of the enemy of tripurasuras (i.e. Lord shiva), and who chews down the pride and arrogance of the enemies of the devas, who wields terrible power to destroy the delusion of the five elements constituting the world (from the mind of his devotees); who himself is adorned with the powers (behind the five elements) like fire etc., from whose cheeks flow down the juice of grace; salutations to him whose praise similarly flows down like juice from the puranas.
हृदन्तरे निरन्तरं वसन्तमेव योगिनां
तमेकदन्तमेव तं विचिन्तयामि सन्ततम् ॥५॥
Salutations to Sri Vinayaka whose beautiful form of ekadanta is very much dear to his devotees, and who is the son of the one (referring to lord shiva) who put an end to (i.e. Restrained) antaka (i.e. Yama), whose essential form is inconceivable and without any limit, and which cuts through the obstacles of his devotees, who continually abides in the cave of the heart of the yogis. I continually reflect upon him, the ekadanta (another name of Sri Vinayaka).
प्रजल्पति प्रभातके हृदि स्मरन् गणेश्वरम् ।
अरोगतामदोषतां सुसाहितीं सुपुत्रतां
समाहितायुरष्टभूतिमभ्युपैति सोऽचिरात् ॥६॥
Salutations to Sri Vinayaka. Those who read the great Ganesha Pancharatnam (five Jewels in praise of Sri Ganesha) with devotion and utter this in the early morning contemplating on Sri Ganeshvara in their hearts will get free from diseases and vices, will get good spouses and good sons, and with it he will get long life and the eight powers soon.
Also, refer: https://www.kamakoti.org/shlokas/kshlok3.htm