Faraday rotation measurements on compact helical system by using a phase sensitive heterodyne polarimeter Rev. Sci. Instrum. 70, 730 (1999); 10.1063/1.1149314 This article is copyrighted as indicated in the article. Reuse of AIP content is subject to the terms at: http://scitationnew. The rotating waveplate Stokes polarimeter was developed for ITER (International Thermonuclear Experimental Reactor) poloidal polarimeter. The generalized model of the rotating waveplate Stokes polarimeter and the algorithm suitable for real-time field-programmable gate array (FPGA) processing were proposed. Since the generalized model takes into account each component associated with the rotation of the waveplate, the Stokes parameters can be accurately measured even in unideal condition such as non-uniformity of the waveplate retardation. Experiments using a He-Ne laser showed that the maximum error and the precision of the Stokes parameter were 3.5% and 1.2%, respectively. The rotation speed of waveplate was 20 000 rpm and time resolution of measuring the Stokes parameter was 3.3 ms. Software emulation showed that the real-time measurement of the Stokes parameter with time resolution of less than 10 ms is possible by using several FPGA boards. Evaluation of measurement capability using a far-infrared laser which ITER poloidal polarimeter will use concluded that measurement error will be reduced by a factor of nine. C 2016 AIP Publishing LLC.[http://dx