An About.com article provides an English translation of the Ave Maria hymn. The hymn reads the same as the Hail Mary prayer often prayed by Catholics.
The first verse of the prayer and hymn come from the Bible passage in Luke 1:28 when the archangel Gabriel visits Mary, mother of Jesus, to tell her she will give birth. The second is taken from a later passage (Luke 1:42) when Mary visits her cousin Elizabeth who is at the time pregnant with John the Baptist. The prayer has been set to music several times, but the most famous version is that of Charles Gonoud, according to Wikipedia.