Night:
Between Maghrib and `Isha' recite a two rakaat prayer and in each unit recite Surah al-Fatihah once, Surah al-Tawhid once
Day:
It is highly recommended to fast on this day
Recite 4 raka'ats (2x2), in each unit after Sura al-Hamd, recite Sura al-Ikhlas 50 times. After completion recite Tasbih of Bibi Fatema (SA)
Half an hour before Dhuhr, recite 2 raka'at prayer, in each unit after Sura al-Hamd recite Sura al-Ikhlas, Ayatul Kursi, and Sura al-Qadr 10 times each.
Excerpt from 'Hayat Al-Qulub, Vol.1, Stories of the Prophets:
Through authentic chains it is narrated from Imam Musa ibn Ja‘far that Ibrahim was fifteen years old when he acquired perfect morals and divine recognition. It is related from the Holy Prophet that,
'I would be the first one to be summoned on the Resurrection Day and I shall go and stand on the right of the throne. I would be made to wear a green garment of Paradise. Then my forefather Ibrahim and my brother ‘Ali shall be summoned. They would stand on the right side of the throne under its shade and would also be given green garments of Paradise. A caller will raise a cry in front of the Divine Throne: “O Muhammad! How virtuous is your forefather Ibrahim and how virtuous is your brother, ‘Ali.”'
According to authentic traditions Ibrahim is the first person who hosted guests and got grey hair in his beard. He asked the Almighty as to what it was. The Almighty revealed, 'It is the dignity of this world and the light (noor) of the hereafter.'
In certain ayats the Almighty has referred to Ibrahim as his ‘Khalil’ (friend). ‘Khalil’ is one who does not allow any type of ‘Khalal’ (deficiency) in fulfilling the rights of friendship. In this way the Almighty appointed him as His friend. Many traditions have been mentioned in this regard. One of such traditions is related through reliable sources from Imam al-Ridha.
The Almighty Allah appointed Ibrahim as His friend because he did not spun the request of anyone and himself never asked anyone but Allah.