This is the 2081st most frequent Polish word.
najstarszym
"Najstarszym" means "the oldest" in English.
Here, "najstarszym" is used as an adjective describing "członkiem" (member), indicating the superlative degree of being old within a defined group (our family).
Mój brat jest najstarszym członkiem naszej rodziny.
My brother is the oldest member of our family.
In this sentence, "najstarszym" serves to modify "drzewo" (tree) in the superlative degree within the context of the park.
To drzewo jest najstarszym w całym parku.
This tree is the oldest in the entire park.
Here, "najstarszym" operates in the superlative form to describe "znanym tekstem literackim" (known literary text) within the scope of known examples.