We introduce a novel method for the renormalization of the Hamiltonian oper
ator in Quantum Field Theory in the spirit of the Wilson renormalization gr
oup. By a series of unitary transformations that successively decouples the
high-frequency degrees of freedom and partially diagonalizes the high-ener
gy part, we obtain the effective Hamiltonian for the low energy degrees of
freedom. We successfully apply this technique to compute the 2-loop renorma
lized Hamiltonian in scalar lambda phi(4) theory. (C) 1999 Elsevier Science
B.V. All rights reserved.