Is this benediction a prayer?

The inclusion of the word be in our English translation suggests to us that these words are indeed a prayer. The Greek, however, has no verb at all, that is, the grace of the Lord Jesus with all. The point of the formulation is that this benediction is a pronouncement or declaration of fact (akin to how the pronouncement God bless America is understood in our day). As the saints of the Old Testament dispensation could leave the temple heartily reassured of God’s certain smile upon them (Numbers 6:22–26), so the saints of the new dispensation may be equally assured that his favour actually and really rest upon them. Given all the challenges that come upon God’s people in this dispensation, this reassurance is most comforting. Saints of God need not wait till the Last Day to experience the reality of his mercy!