Found at The Lied and Art Song Texts Page:

"WIEGENLIED", D. 498 (1816), published 1829.
Words, anonymous*. Music, Franz Peter Schubert (1797-1828)

Schlafe, holder, süßer Knabe,
Leise wiegt dich deiner Mutter Hand;
Sanfte Ruhe, milde Labe
Bringt dir schwebend dieses Wiegenband.

Schlafe in dem süßen Grabe,
Noch beschützt dich deiner Mutter Arm,
Alle Wünsche, alle Habe
Faßt sie lieben, alle liebwarm.

Schlafe in der Flaumen Schoße,
Noch umtönt dich lauter Liebeston,
Eine Lilie, eine Rose,
Nach dem Schlafe werd' sie dir zum Lohn.

*According to Snyder's German Poetry in Song: An Index of Lieder, this poem is often misattributed to Claudius [Matthias Claudius (1740-1815)] but it is not to be found in his works. This may be due to the similarity of its first line with that of [another] poem.

Singable translation from German to English copyright © 2007 by Linda Godry:

Do sleep, do sleep, lovely, sweet boy,
To the gentle rocking of your mother's hand;
Peaceful sleep, and recreation
Does come floating with each gentle pull.

Do sleep, do sleep in your sweet berth,
Still protected by your mother's arm,
All her wishes, all your talents
Encompassing, in her steady love.

Do sleep, do sleep, in that downy embrace,
Still you only hear a gentle crooning,
Dewy flowers: lilies and roses,
After slumber they will be your prize.