We develop a theory of the magneto-optical and magneto-electric properties of a topological insulator thin film in the presence of a quantizing external magnetic field. We find that lowfrequency magneto-optical properties depend only on the sum of top and bottom surface Dirac-cone filling factors νT and νB, whereas the low-frequency magneto-electric response depends only on the difference. The Faraday rotation is quantized in integer multiples of the fine structure constant and the Kerr effect exhibits a π/2 rotation. Strongly enhanced cyclotron-resonance features appear at higher frequencies that are sensitive to the filling factors of both surfaces. When the product of the bulk conductivity and the film thickness in e 2 /h units is small compared to α, magneto-optical properties are only weakly dependent on accidental doping in the interior of the film. Our work is motivated in part by potential advantages of magneto-optical over transport [3] characterization in isolating TI surface properties from bulk contamination due to unintended doping. Since Landau level (LL) quantization of the TI's surface Dirac cones has recently been established by STM experiments [4], it should be possible to detect surface quantum Hall effects optically, even when parallel bulk conduction is present. In the quantum Hall regime, we find that the low-frequency Faraday effect is quantized in integer multiples of the fine structure constant, while the Kerr effect displays the same [5] giant π/2 rotation relative to the incident polarization direction that appears when time reversal is broken by exchange coupling. At higher frequencies, we find strong cyclotron resonance features in both Faraday and Kerr spectra.One goal of our work is to clarify how the magnetoelectric effects peculiar to TIs [5][6][7][8][9] are reflected in their thin film magneto-optical properties. We show that lowfrequency TI magneto-optical response in the quantum Hall regime depends on the sum of top and bottom surface filling factors, whereas the magneto-electric response of film polarization to an external magnetic field depends on the filling factor difference. We argue that coupling between electric and magnetic fields in the presence of a TI material is most usefully regarded as a property of its surfaces, not of its bulk. Low-frequency Magneto-electric and Magneto-optical Re-