We perform a general analysis of the Stark effect for an isolated atom
ic level in the field of an elliptically polarized light wave. Qualita
tive features of the Stark effect for hydrogen-like atoms are discusse
d. Analytical expressions for hydrogen polarizabilities are obtained f
or the general case of arbitrary al states, as well as for some partic
ular cases. The low frequency Stark effect is analyzed in detail. The
limiting cases of high frequencies and near-threshold frequencies are
considered.