2 And as he says this we must enquire concerning what man we are to understand him to be speaking. He says: Happy is the man who has not walked in the counsel of the ungodly nor stood in the way of sinners, and has not sat in the seat of pestilence. But his will has been in the Law of the Lord, and in His Law will he meditate day and night. And he shall be like a tree planted by the rills of water, that will yield its fruit in its own season. His leaf also shall not wither, and all things, whatsoever he shall do, shall prosper. I have discovered, either from personal conversation or from their letters and writings, that the opinion of many men about this Psalm is, that we ought to understand it to be a description of our Lord Jesus Christ, and that it is His happiness which is extolled in the verses following. But this interpretation is wrong both in method and reasoning, though doubtless it is inspired by a pious tendency of thought, since the whole of the Psalter is to be referred to Him: the time and place in His life to which this passage refers must be ascertained by the sound method of knowledge guided by reason.
Source: Homilies on the Psalms (New Advent)