I was set up - Rather, "I was anointed" (compare Psalm 2:6 margin: 2-Chronicles 28:15). The image is that of Wisdom anointed, as at her birth, with "the oil of gladness."
Or ever the earth was - literally, "from the times before the earth."

I was set up from everlasting - נסכתי nissachti, "I was diffused or poured out," from נסך nasach, "to diffuse, pour abroad, as a spirit or disposition," Isaiah 29:10. See Parkhurst. Or from סך sach, "to cover, overspread, smear over, as with oil;" to be anointed king. Hence some have translated it, principatum habui, I had the principality, or was a ruler, governor, and director, from eternity. All the schemes, plans, and circumstances, relative to creation, government, providence, and to all being, material, animal, and intellectual, were conceived in the Divine mind, by the Divine wisdom, from eternity, or ever the earth was. There was no fortuitous creation, no jumbling concourse of original atoms, that entered into the composition of created beings; all was the effect of the plans before conceived, laid down, and at last acted upon by God's eternal wisdom.

(l) I was set up from everlasting, from the beginning, or ever the earth was.
(l) He declares the eternity of the Son of God, who was before all time, and ever present with the father.

I was set up from everlasting,.... I, a person, and not a quality; a person, and not a nature; the person of Christ as the Son of God, and not the human nature of Christ, which then did not exist; this phrase designs the ordination and constitution of Christ in his office as Mediator. So the Vulgate Latin version renders it, "I was ordained"; Christ was foreordained to be the Redeemer and Saviour of men, to be the propitiation for their sins, to be the head of the church, and the Judge of the world. It intends likewise his inauguration into his office, and his investiture with it; and because anointing with oil was used in installing persons into the offices of prophet, priest, and king; hence Christ's instalment into his office as Mediator is here expressed by an anointing; for the words may be rendered, "I was anointed" (i); it takes in all that goes to his constitution as Mediator, his call, appointment, and investiture; and the whole of his office, every part and branch of it; and chiefly his kingly office, with reference to which the same word is used Psalm 2:6; and so Gersom paraphrases it,
"and there were given to me power, dominion, and greatness;''
all which suppose the eternity of his person; for had he not existed from everlasting, he could not have been set up, and anointed as Mediator, or invested with his office as such;
from the beginning, or ever the earth was; or from the first of the earth, or the original of it; that is, before all time, before the earth or anything was created; this further confirms the eternal existence of Christ's person, the antiquity of his office, the early provision of grace in him as Mediator for his people, and may lead to entertain high and honourable thoughts of him.
(i) "uncta sum", Cocceius, Michaelis, Schultens; "inuncta fui", Gejerus.

I was set up--ordained, or inaugurated (Psalm 2:6). The other terms carry out the idea of the earliest antiquity, and illustrate it by the details of creation [Proverbs 8:24-29].

A designation of the When? expressed first by מאז (Isaiah 48:8, cf. Isaiah 40:21), is further unfolded:
"From everlasting was I set up,
From the beginning, from the foundations of the earth."
That נסּכתּי cannot be translated: I was anointed = consecrated, vid., at Psalm 2:6. But the translation also: I was woven = wrought (Hitzig, Ewald, and previously one of the Greeks, ἐδιάσθην), does not commend itself, for רקּם (Psalm 139:15), used of the embryo, lies far from the metaphorical sense in which נסך = Arab. nasaj, texere, would here be translated of the origin of a person, and even of such a spiritual being as Wisdom; נסדתּי, as the lxx reads (ἐθεμελιωσέ με), is not once used of such. Rightly Aquila, κατεστάθην; Symmachus, προκεχείρισμαι; Jerome, ordinata sum. Literally, but unintelligibly, the Gr. Venet. κέχυμαι, according to which (cf. Sir. 1:10) Bttcher: I was poured forth = formed, but himself acknowledging that this figure is not suitable to personification; nor is it at all likely that the author applied the word, used in this sense of idols, to the origin of Wisdom. The fact is, that נסך, used as seldom of the anointing or consecration of kings, as סוּך, passes over, like יצק (הצּיק), צוּק (מצוּק, a pillar), and יצג (הצּיג), from the meaning of pouring out to that of placing and appointing; the mediating idea appears to be that of the pouring forth of the metal, since נסיך, Daniel 11:8, like נסך, signifies a molten image. The Jewish interpreters quite correctly remark, in comparing it with the princely name נסיך [cf. Psalm 83:12] (although without etymological insight), that a placing in princely dignity is meant. Of the three synonyms of aeternitas a parte ante, מעולם points backwards into the infinite distance, מראשׁ into the beginning of the world, מקּדמי־ארץ not into the times which precede the origin of the earth, but into the oldest times of its gradual arising; this קדמי it is impossible to render, in conformity with the Hebr. use of language: it is an extensive plur. of time, Bttcher, 697. The מן repeated does not mean that the origin and greatness of Wisdom are contemporaneous with the foundation of the world; but that when the world was founded, she was already an actual existence.

Set up - Hebrews. anointed, constituted to be the person by whom the Father resolved to do all his works, to create, to uphold and govern and judge, to redeem and save the world. From the beginning - Before which, there was nothing but a vast eternity. The earth - Which together with the heaven, was the first of God's visible works.