There are several Shiva panchakshari stotras composed by various saints. This
panchakshari stotra, composed by Sri Adi Shankaracharya, is based on the
moolamantra of Lord Shiva "Om Namashivaya". Each stanza starts with
one of the five syllables, na, ma, shi, va, and ya.
Nagendraharaya Trilochanaya
Bhasmangaragaya Maheshvaraya
Nityaya Shuddhaya Digambaraya
Tasmai Nakaraya Namah Shivaya [1]
Salutations to Shiva, who wears the king of snakes as a garland, the
three-eyed god, whose body is smeared with ashes, the great lord, the eternal
and pure one, who wears the directions as his garment, and who is represented by
the syllable "na."
Mandakini salila chandana charchitaya
Nandishvara pramathanatha Maheshvaraya
Mandarapushpa bahupushhpa supujitaya
Tasmai Makaraya Namah Shivaya [2]
I bow to Shiva, who has been worshipped with water from the Ganga (Mandakini)
and anointed with sandalwood paste, the lord of Nandi, the lord of the host of
goblins and ghosts, the great lord, who is worshiped with Mandara and many other
kinds of flowers, and who is represented by the syllable "ma."
Shivaya Gauri vadanabjavrunda
Suryaya Dakshadhvara Nashakaya
Shrinilakanthaya Vrushhadhvajaya
Tasmai Shikaraya Namah Shivaya [3]
Salutations to Shiva, who is all-auspiciousness, who is the sun that causes
the lotus face of Gauri (Parvati) to blossom, who is the destroyer of the yajna
of Daksha, whose throat is blue (Nilakantha), whose flag bears the emblem of the
bull, and who is represented by the syllable "shi."
Vasishhtha kumbhodbhava gautamarya
Munindra devarchita shekharaya .
Chandrarkavaishvanara lochanaya
Tasmai Vakaraya Namah Shivaya [ 4]
Vasishhtha, Agastya, Gautama, and other venerable sages, and Indra and other
gods have worshipped the head of (Shiva's linga). I bow to that Shiva whose
three eyes are the moon, sun and fire, and who is represented by the syllable
"va."
Yakshasvarupaya Jatadharaya
Pinakahastaya Sanatanaya
Divyaya Devaya Digambaraya
Tasmai Yakaraya Namah Shivaya [5]
Salutations to Shiva, who bears the form of a Yaksha, who has matted hair on
his head, who bears the Pinaka bow in his hand, the primeval lord, the brilliant
god, who is digambara (naked), and who is represented by the syllable "ya."
Phalastuti
Panchaksharamidam Punyam Yah Pathechchhivasannidhau.
Shivalokamavapnoti Shivena Saha Modate.
Anyone who recites this sacred five-syllable mantra, (Namah Shivaya) near the
Shiva (linga), attains the abode of Shiva and rejoices there with Shiva.
This prayer and translation is from AstroJyoti.com.