Lectio Divina means "divine reading" but is better translated "spiritual reading." It's reading the Bible prayerfully, slowly, thoughtfully, listening with your whole self.
It includes 4 elements:
Lectio is to simply read the text, slowly and prayerfully. Read it a few times and notice words, phrases, or verses that stand out.
Meditatio invites you to reflect on the words, phrases, or verses that stood out to you. Write them down and let them sink into your heart. Ask yourself what God is saying to you through those words.
Oratio moves you to a prayerful response. Take the words, phrases, or verses to God in prayer and speak to him, in gratitude, about what is stirring in your heart.
Contemplatio is where we rest in God. Be still and allow God to love you, moving from conversation with Him to communion with Him. Be patient. This may require practice.

Some of our favorite Lectio resources:
Lectio Divina Journal (print and app versions available)
Lectio 365