Let A =∏k=k0∞grk(A) be a
complete graded (associative or Lie) algebra over a field of characteristic zero, filtered
by the decreasing filtration Fj(A) =∏k=j∞grk(A). We let Aut(A) denote the group
of filtration preserving automorphisms of A, and Aut0(A) the subgroup consisting
of those elements of Aut(A) which preserve the grading. In this paper we
prove that every element of Aut(A) has a unique polar decomposition of the
form u0exp(d), where u0∈Aut0(A) and d : A → A is a filtration increasing
derivation.