This paper describes a method for determining the complex polarization ratio using two identical, linearly polarized antennas. By Fourier transform analysis of s21 measurements with one of the antennas rotating about its axis a circular polarization ratio is derived which can be transformed into an equivalent linear polarization ratio. A linearly polarized reference antenna is not required. The technique was verified by electromagnetic simulations and illustrated by measurements in an anechoic chamber with two 3.3 GHz square patch antennas.