Hello and welcome to my guide how I play Morgana.
This is just the way I play her, and a claim by no means at all that i'm a "pro".
Also, don't be to harsh on spelling/grammar mistakes, since english isn't my main language.
I have no idea if this works in ranked since i'm only level 24, any feedback on this guide is highly apreciated.
Let's get this started!

Pros:

• Deals tremendous amounts of damage in a short period of time.
• Is easy to learn.
• Mid-lategame farming = easy as hell.
• Has one of the best passives ingame imo.
• AP ratio's are good.
• Can be used in different roles in a team.
• Nearly ungankable thanks to Black Shield

Cons:

• Can run out of mana early game.
• Can be quite squishy
• often focused.
• Tends to be a slow character (altough you mostly won't need to be that fast with your snare & flash at hand)

Soul Siphon is one of the best passives ingame in my opinion. It makes you have more survivability and can give you that edge in close 1v1's.

Dark Binding is your main damage spell. Deals huge damage lategame & snares your target. This doesn't mean you can spam it early game because then you will run out of mana rather quickly. It also has a nice 90% AP ratio.

Tormented Shadow is an AoE damage over time spell. Great for farming, place it between the melee minions & the magic minions, that way it should damage then both. dark binding also should be placed immediatly after a succesfull hit of Dark Binding. It has a 20% AP ratio.

Black Shield: This thing is a life-saver! it can be used in so many ways. It blocks all incoming effects (stuns, slows, etc..) & absorbs magic damage. Can be used to save yourself or a teammate (for example against the ult of Lux), or be used to iniate in combination with flash, hourglass & your ult. the AP ratio is a nice 100%

Soul Shackles deals damage & slows all targets in the range for 3 seconds, if they are still in range after 3 seconds they get damaged again and are stunned for 1.5 seconds. Great for initating teamfights (see black shield) & is a good nuke in lane phase. The AP ratio is 100%

Good picks:

• A versatile spell that basically allows you to be at 2 places in the same time. Lay down a gank and then teleport back to defend your tower, recall & teleport back so you don't miss on experience, etc..
• My favorite, flash in a teamfight for your ult+hourglass combo, flash out of a turret dive, flash over a wall to escape. I take it with me on every champion I play.
• If you feel that your enemies are getting away with that last bit of health, ignite provides the solution. Also great against champions that have a heal, like Taric, Nidalee, etc...

Neutral picks:

• I leave it to the supports, but I've seen some people use it on morgana and do great with it. So if you like it, take it.
• If you feel that you're too mana hungry early, either change your for a or take this.
• Only good for close 1v1's & first blood imo, but this can be an additional lifesaver in combination with Black Shield.
• If you prefer this over flash, take it. I find it useless since you have a snare, but it's an okay pick, i guess.
• Exhaust can be used to deal with those DPS characters, to getaway (altough you can use flash + your snare for that) or to keep them in range of your ult.

Bad Picks:

• A waste of a summoner spell imo.
• If you need this in order to be successful, you're doing it wrong. I see the rare case that you use revive+teleport combo in order to defend, but i think it's useless as it's way too situational.
• This isn't a jungling build.
• Leave this for your support or tanks.

Note: This is not a set-in-stone build to follow, if you feel you need something else in a game, by all means take it.

Early game:

I start off with a Sapphire Crystal for the extra mana, and a & . This should keep you in lane long enough to buy catalyst the protector when you recall for the first time. Then, you can make a first choice. If you're feeling that the enemy's are outrunning quite a bit, take Boots, else finish your Rod of Ages earlier to have that early damage boost. Turn your Boots into Sorcerer's Shoes.

Mid game:

Laning phase should be over by the time you finish the above. Now you can go 3 ways depending on your enemy team. If your enemy team is AP heavy go:
-> ->
If you're facing an AD heavy team follow:
-> ->
And if your enemy has lots of HP but you feel confident enough to have less survivability follow:
-> ->

Lategame:

Usually the game tends to end before you can build these items, but most of the time i go with a Morello's Evil Tome, a Deathfire Grasp or a Guardian Angel.

Situational item's:

: Some people like to use it, but i prefer Rod of Ages because it gives you more health, it gives you mana & equal amount of AP for a cheaper price. The slow on Rylai's is rather useless since Dark Binding is your only single target spell & it's a snare.

: Can be used if you feel you need more CDR & you're willing to buy another magic penetration item in your build.

: Can be used to chase extremely well, certainly in combination with your ultimate.

: A decent item, the CDR is very useful & the speed boost (altough short) can save you or help you securing a kill.

: Great item for morgana if you're not the number 1 AP caster, and the spellvamp works great in combination with your passive.

: Great for teams that stack magic resistance against you, but be aware that a Haunting Guise in combination with your Sorcerer's Shoes is better unless your enemy has more then 100 Magic Resistance.

: The buff actually makes this a decent item on morgana, boosting your survivability & passive.

: If you want to be a little tankier then usual, take this, also the CDR & speed debuff is nice.

: Great item in combination with your ult, a very decent item to get and has (altough little) CDR too.

: Great against beefy champions.

: The passive of this item might save you if you're having trouble with your Black Shield

: AP, CDR and mana regen, what else do you need?

: Very useful item against a caster heavy team.

: Can be switched up with Rod of Ages or build at the endgame, I personally don't use it alot, but it's a good item.

: Decent early game item for morgana.

: Great passive. Get 'revived', black shield & walk away. Great if you like to troll your enemies :D

Marks:

I go for Greater Mark of Magic Penetration because morgana is a mage and profits from the magic penetration quite a bit. You can get Greater Mark of Ability Power if you want, but i prefer the magic penetration.

Seals:

I go with greater seal of replenishment because the mana regen is very nice on morgana, worthy substitutes are Greater Seal of Cooldown Reduction for the CDR.

Glyphs:

I use Greater Glyph of Cooldown Reduction for the CDR, but you can take Greater Glyph of Scaling Ability Power if you want.

Quintessence's:

The best quints for morgana imo are Greater Quintessence of Ability Power, but you can take Greater Quintessence of Health for that extra health.

Everyone knows those annoying stealth champions, like Shaco, Twitch, Evelynn.. If you absolutely HATE playing against them, you have to know that when you're playing with morgana their stealth is useless. You know that your ult, Soul Shackles, can only be activated when an enemy champion is in range? Well, if you pay attention to it you can see when they're close to you. (Only if no other enemy champion's are around, but it's still a pretty neat trick.)

If you're running away from your enemy's, always remember that you have spellvamp. land on some jungling creeps and see your health rising, especially when you have additional spellvamp items like Will of the Ancients.

You can use your Dark Binding both offensively as defensively. This works great in combination with the trick stated above, land your Dark Binding, place Tormented Shadow and walk away whilst you see your health rising.

Well, that's it for my guide on Morgana, the fallen angel. Feedback is highly appreciated & have fun playing morgana!

Update's: 22/08/2011 - Added Tips & Tricks section.