When we pray the Word of God, to our great God and our Savior Jesus Christ (Titus 2:13), we are simply, but very profoundly, praying for the desires and directives that He has given us through the Holy Spirit:
All scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness (2 Timothy 3:16).
When we pray the Word, we will have the tendency to think that we are reminding Him of the promises that He has made to us. That is definitely not the case, as He knows what He has promised and He knows what we need before we ask Him (Matthew 6:8). We actually pray the Word to remind ourselves of what he has promised us. In other words, we grow our faith by hearing the Word (Romans 10:17).
You can pray the word of God in different ways. The easiest is to open up the Bible at random, read a chapter for overall context, and then start praying the scriptures, instead of reading them. Another way is to choose a book, say Psalms, and then select a chapter to pray. Another way is to write out various scriptures from the Bible to form a theme of prayer. This is what I have done in the immediate prayer below and all of the other "Pray the Word" prayers that are listed at the bottom of this page.
O Heavenly Father, we know that the word of God shall stand for ever (Isa 40:8). In God we praise Your word: in the Lord we praise Your word (Psalm 56:10). O Lord Your words are pure words and we know that You will keep them and preserve them forever (Psalm 12: 6&7). Your Word is living and powerful, and sharper than any two-edged sword, piercing even to the division of soul and spirit, and of joints and marrow, and discerns the thoughts and intents of the heart (Heb 4:12). As Your word is taught, it gives light, even the simple can understand (Psalm 119:130). Help us Lord Jesus to always hide Your word in our hearts so that we might not sin against You (Psalm 119:11).
We are fully persuaded that what You promise You are able to perform (Rom 4:21), so we are stand on Your promises (2 Cor 1:20) as You said that Your Word would not return void (Isa 55:11). God is not a man, that he should lie; neither the son of man, that he should repent: hath he said, and shall he not do it? or hath he spoken, and shall he not make it good (Num 23:19)? We pray that the Word of the Lord may have free course in our lives (2 Thes 3:1) and that You open our eyes to see the wonderful truths in Your instructions (Psalm 119:18).
Lord Jesus, You said in John 14:14 “If ye shall ask any thing in my name, I will do it”, so in the name of Jesus Christ, attend unto our cry, give ear unto our prayer that comes from our lips (Psalm 17:1). Yes Lord, hear! O Lord, forgive us of our sins! O Lord, listen and act! Do not delay for Your own sake, my God (Daniel 9:19).
You said that we could call to You and You would show us great and mighty things (Jer 33:3), and we know that You Christ Jesus are able to do exceedingly abundantly above all that we ask or think, according to the power that works in us (Eph 3:20), so we pray that wherever we go, we go in the power of Your Spirit, so it is not by our might or by our power that we go (Zech 4:6).
Lord help us possess the land that You have given us as it flows with milk and honey (Num 13:27,30) and is filled with Your glory (Num 14:21). Lord we have seen Your glory, and the miracles that You have performed (Num 14:22). Lord You said “According to your faith be it unto you” (Matt 9:29) so we claim Your promise that You will testify through us daily with signs, wonders and various miracles, and gifts of the Holy Ghost distributed according to Your will (Heb 2:4). Lord we also claim the promise of the exceeding greatness of Your power to us who believe, according to the working of Your mighty power (Eph 1:19), which is wrought in Christ (Eph 1:20), and is far above all principality, and power, and might, and dominion, and every name that is named, not only in this world, but also in that which is to come (Eph 1:21).
In Jesus' name, we claim these promises.