Deeproot Waters

Whenever you cast a Merfolk spell, create a 1/1 blue Merfolk creature token with hexproof. (A creature with hexproof can't be the target of spells or abilities your opponents control.)

Merrow Reejerey

Other Merfolk creatures you control get +1/+1.
Whenever you cast a Merfolk spell, you may tap or untap target permanent.

Stonybrook Angler

{1}{U}, {T}: You may tap or untap target creature.

Wanderwine Prophets

Champion a Merfolk (When this enters, sacrifice it unless you exile another Merfolk you control. When this leaves the battlefield, that card returns to the battlefield.)
Whenever Wanderwine Prophets deals combat damage to a player, you may sacrifice a Merfolk. If you do, take an extra turn after this one.

Master of the Pearl Trident

Other Merfolk creatures you control get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Stonybrook Schoolmaster

Whenever Stonybrook Schoolmaster becomes tapped, you may create a 1/1 blue Merfolk Wizard creature token.

Drowner of Secrets

Tap an untapped Merfolk you control: Target player mills a card.

Summon the School

Create two 1/1 blue Merfolk Wizard creature tokens.
Tap four untapped Merfolk you control: Return Summon the School from your graveyard to your hand.

Seafloor Oracle

Whenever a Merfolk you control deals combat damage to a player, draw a card.

Harpoon Sniper

{W}, {T}: Harpoon Sniper deals X damage to target attacking or blocking creature, where X is the number of Merfolk you control.

Island

Aquitect's Will

Put a flood counter on target land. That land is an Island in addition to its other types for as long as it has a flood counter on it. If you control a Merfolk, draw a card.

Plains

Merrow Commerce

At the beginning of your end step, untap all Merfolk you control.

Judge of Currents

Whenever a Merfolk you control becomes tapped, you may gain 1 life.

Merfolk Sovereign

Other Merfolk creatures you control get +1/+1.
{T}: Target Merfolk creature can't be blocked this turn.

Sygg, River Guide

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
{1}{W}: Target Merfolk you control gains protection from the color of your choice until end of turn.

Seahunter

{3}, {T}: Search your library for a Merfolk permanent card, put it onto the battlefield, then shuffle.

Emperor Mihail II

You may look at the top card of your library any time.
You may cast Merfolk spells from the top of your library.
Whenever you cast a Merfolk spell, you may pay {1}. If you do, create a 1/1 blue Merfolk creature token.