In Shamanism it is believed that all natural objects in universe has spirit or soul in them. Power animals in simplest terms are guides in the that meet you in your dreams, shamanic journey or vision quests.They provide guidance needed.
In the shamanic belief every thing is alive and carries with it power and wisdom. Power animals are an essential component of shamanic practice.
Shamans believe that everyone has power animals – animal spirits which reside with each individual adding to their power and protecting them from illness, acting similarly to a guardian angel. Each power animal that you have increases your power so that illnesses or negative energy cannot enter your body. The spirit also lends you the wisdom of its kind. A hawk spirit will give you hawk wisdom, and lend you some of the attributes of hawk.

We all have power animals that are connected to us much like spirit guides. They come in all shapes, sizes, and frequencies bringing something special at the time we connect. The animal you meet today relates to your current challenges and will show you the way by taking you on a sacred journey.
Everyone is thought to have a few of these guardian power animals, from childhood on. Over the course of her or his life the person may have several. If a power animal leaves and one does not come to take its place the individual is considered, by the shaman, to be disempowered and therefore vulnerable to illness and bad luck. Power animal retrieval is a healing where the shaman goes to find a new power animal for you.
If you would like to find out who your power animal is, consulting a shamanic practitioner is an option. But to discover this on you own, you can ask for a dream and see if anything comes up. You can ask the power animal to show itself to you and if you start seeing one or another animal frequently that would be its way of revealing itself to you.You can also undertake Shamanic Journey yourself.