There is no definite evidence to his (Solomon) authorship of this Psalm, but there are strong grounds for suspicioning such. Even the casual reader will note a strong similarity between the Proverbs and the first Psalm.
The father is talking to his son. Perhaps this father is Solomon. Perhaps the son is Rehoboam, who succeeded him on the throne. Solomon is teaching Rehoboam the way to blessedness and is warning him about the destruction of those who follow evil. In some ways it may be regarded as a preface to the rest of the Psalms. Perhaps it is a summary of what is to come later, for is it not true that all of the Psalms teach us the blessedness of living a holy and righteous life and the danger of living a life for self and sin.
The Way It Was Used by God's People
The Jews used the first Psalm as instruction to children in family worship. It was memorized by each child and quoted and sung over and over again. Wise parents teach this Psalm to their children unto this day. Fathers gather the family together and explain the beautiful recipe for success given in this Psalm, as follows: Walking not in the counsel of the ungodly, plus standing not in the way of sinners, plus sitting not in the seat of the scornful, plus delighting in the law of the Lord, plus meditating in the Word of God day and night equals success.
It is interesting to note that the word "blessed" in verse 1 is a plural word in the original. It means that there are a multiplicity of blessings which rest upon the person who observes the five conditions for prosperity and success. The Psalm should be read with a mental picture of a father talking with his son, counseling with him and advising him about life. Emphasis should be placed upon seeking counsel only from the saved, running with the right crowd, not developing a critical tongue, enjoying the Word of God and meditating therein. Then, a warning should be given concerning the instability and tragic results of sin.
by Dr. Jack Hyles