Apparently it's coded Arabic and it's about Sufism. It looks like they have decoded it. I have been interested in this for a long time.
Source:Hello, I present here a solution to the Voynich mystery.
The Voynich manuscript (MS Document 408 of Yale University’s Beinecke Rare Book and Manuscript Library) is a book whose text has not been deciphered yet.
Many studies have been made in the last hundred years to solve the mystery and there are many theories about the origin and contents of this book. For basic informations on this issue you should have a look here.
Well, it can be shown that the VM text can be derived from a special representation of the Arabic language.
An example to this is shown above as the header.
The 1st Line represents a record in this typical VM font. Below there you can see the corresponding transcription (as the decisive novelty), followed by the script generated from this into Arabic. The last line contains a translation into English.
This example is intended to give a first impression in the new process.
voynich2arabic | voynich2arabic: Deciphering Voynich Manuscript as from Phonetic Arabic., by Joachim Dathe.