In plain words
Knowing Me as the enjoyer of yajñas and tapas, the great Lord of all worlds, and the friend of all beings, one attains peace.
Word for word
Having known Me as the enjoyer of yajñas and tapas, the great Lord of all worlds, the friend of all beings, [one] attains peace.
भोक्तारं यज्ञतपसां सर्वलोकमहेश्वरम्सुहृदं सर्वभूतानां ज्ञात्वा मां शान्तिमृच्छति
Other commentaries
The commentators
▸Bhagavadgītābhāṣyam
एवं समाहितचित्तेन किं विज्ञेयम् इति, उच्यते —
भोक्तारं यज्ञतपसां यज्ञानां तपसां च कर्तृरूपेण देवतारूपेण च, सर्वलोकमहेश्वरं सर्वेषां लोकानां महान्तम् ईश्वरं सुहृदं सर्वभूतानां सर्वप्राणिनां प्रत्युपकारनिरपेक्षतया उपकारिणं सर्वभूतानां हृदयेशयं सर्वकर्मफलाध्यक्षं सर्वप्रत्ययसाक्षिणं मां नारायणं ज्ञात्वा शान्तिं सर्वसंसारोपरतिम् ऋच्छति प्राप्नोति ॥ २९ ॥
In plain words
So: with the mind gathered like this, what is there left to know? The answer comes —
'The enjoyer of sacrifices and austerities' means their enjoyer both as the one who performs them and as the deity to whom they're offered. 'The great Lord of all the worlds' means exactly that — the great Lord of every world. 'The friend of all beings' means of every living creature — a benefactor who expects nothing back in return. He dwells in every heart, oversees the fruit of every single action, witnesses every thought that arises. Knowing me — Nārāyaṇa — as all of this, a person reaches peace: the end of the whole cycle of birth and death.
Close to the Sanskrit
Thus — by one of gathered mind, what is to be known? — so (the question standing), it is said —
'The enjoyer of sacrifices and austerities' — [i.e.] of sacrifices and austerities, both in the form of their performer and in the form of the deity; 'the great Lord of all the worlds,' [i.e.] the great Lord of all the worlds; 'the friend of all beings,' [i.e.] of all living creatures — the benefactor without any expectation of favor in return; 'dwelling in the heart of all beings'; 'the overseer of the fruit of all actions'; 'the witness of every cognition' — 'having known me,' Nārāyaṇa, 'reaches peace,' [i.e.] the cessation of all transmigratory existence — obtains [it].