And Joseph brought in Jacob his father, and set him before Pharaoh: and Jacob blessed Pharaoh. Jacob blessed Pharaoh - Saluted him on his entrance with Peace be unto thee, or some such expression of respect and good will. For the meaning of the term to bless, as applied to God and man, See Clarke on Genesis 2:3 (note).
Related Commentaries of Genesis 47:7
Genesis 47:7
7 And Joseph brought in Jacob his father, and set him before Pharaoh: and Jacob blessed Pharaoh.