praise (v.) Look up praise at Dictionary.com
c.1300, "to laud, commend, flatter," from Old French preisier, variant of prisier "to praise, value," from Late Latin preciare, earlier pretiare (see price (n.)). Replaced Old English lof, hreþ.

Specifically with God as an object from late 14c. Related: Praised; praising. Now a verb in most Germanic languages (German preis, Danish pris, etc.), but only in English is it differentiated in form from cognate price.
praise (n.) Look up praise at Dictionary.com
early 14c., not common until 16c., from praise (v.).