Words: English Traditional
Douce MS, 302, 15th Century

William Sandys, Christmas-tide, Its History, Festivities and Carols, With Their Music (London: John Russell Smith, 1852), pp. 218-9.

Versions:
Wolcu zol thu mery ma (William Sandys, 1833)
Welcü Yole In Good Array (William Sandys, 1852)
Wolcum be thu, hevene kyng (Thomas Wright, 1841)
Welcome Yule (Edith Rickert, 1910)
Welcome Yule (Charles L. Hutchins, 1916)

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See notes in F A Q

Welcü õole in good array,
In worship of þ^e holiday,
Welcü be þ^u heue kyng,
Welcü þ^u born i on mornyng,
Welcü to þ^e now wil we syng,
Welcü õole for eur and ay,
Welcü be þ^u mare myld,
Welcü be þ^u and þⁱ child,
Welcü fro þ^e fynd þ^u as schilde,
Welcü õole for eu^r and ay,
Welcü be õe steuë and ione,
Welcü childrn eüechone,
Welcü thomas, marty^r, all on,
Welcü õole for eu^r and aye,
Welcü be þ^u good newyere,
Welcü þ^e xij days efere,
Welcü be ye all þt bene here,
Welcü õole for ew^r and aye, 
Welcü be õe lord and lady,
Welcü be õe all þis cüpane,
Ffore õolis love makis mere,
Welcü õole fore ew^r and aye.