Concise Bible Dictionary:
There are two distinct applications of the word “blessing.” God blesses His people, and His people bless God, the same word being constantly used for both. It is obvious therefore that it must be understood in more senses than one. Again, we read that “the less [or inferior] is blessed of the better” (Heb. 7:7); and though this refers to Melchisedec blessing Abraham, the same thing is true respecting God and His creatures: in bestowing favors God is the only one who can bless. The Christian can say, God “hath blessed us with all spiritual blessings in the heavenlies in Christ” (Eph. 1:3); but the same verse says, “Blessed be the God and Father of our Lord Jesus Christ,” meaning “Thanks be to the God and Father of our Lord Jesus Christ.” This signification is further made clear by the records of the institution of the Lord’s supper. In Matthew and Mark the Lord took bread, and “blessed.” In Luke and in 1 Corinthians 11:24 He took bread and “gave thanks.” “Every good gift and every perfect gift is from above, and cometh down from the Father of lights” (James 1:17). This is God blessing us, and for which we in return bless God by giving thanks, by praise and worship.
Strong’s Dictionary of Greek Words:
Transliteration:
makarismos
Meaning:
from 3106; beatification, i.e. attribution of good fortune