According to Merriam-Webster's Collegiate Dictionary, the word favor means "friendly regard shown toward another especially by a superior; approving consideration or attention." What an awesome thought that the Creator of the universe has chosen to give us the regard of his friendship and approving attention! Of all the things he has created--the stars and galaxies, the oceans and mountains, the wonders of the Grand Canyon--he has set aside his undivided attention for us. In fact, all of those creations are intended to remind us of his favor toward us. The word favor is synonymous with the word grace which has been translated as unmerited favor. No, we don't deserve it, but that is what makes it so incredible.
Be encouraged today because he has bestowed on you his favor and honor and you have his complete undivided attention. Grab hold of it and let it transform the way you live and think. He wants you to know that you have his attention. The last part of verse 11 says the he will withhold nothing from those whose walk is blameless. In the context of this entire chapter, to walk blameless means that we simply adopt a lifestyle where God is the sole source of our strength to the point where our very breath is dependent upon him.