c. 1300, "to laud, commend, flatter," from Old French preisier, variant of prisier "to praise, value," from Late Latin preciare, earlier pretiare, from Latin pretium "reward, prize, value, worth," from PIE *pret-yo-, suffixed form of *pret-, extended form of root *per- (5) "to traffic in, to sell." 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.