I've tried and failed to find a suitable translation for this construction. We use it fairly often in a joking way, intentionally using an archaic and reverential tone in a sarcastic manner. Examples:
-OK, you don't have to pay me back.
-Thank you, O merciful one!
-Alright, here's what you've got to do.
-Teach me, O wise one.
-I would never have gotten lost like you did.
-I am unworthy to be in your presence, O omniscient one.