A new compact polarized spectrometer is reported and implemented. An array consisting of two spectrometers is employed in the proposed polarized spectrometer to enable the measurement in the entire visible spectral range, which is necessary for the measurement of different sample types. Only one polarization optical element is used in the optics system with the partially parallel optical path design, which significantly simplifies the configuration and calibration of the system. The compact polarized spectrometer utilizes the incident plane rotating effect to modulate the polarization state in space domain, which consequently reduces the measurement time. The accuracy of the proposed compact polarized spectrometer is demonstrated by measuring test samples with different thicknesses. In consideration of the advantages, such as fast speed, compact and concise structure, eases integration, the proposed instrument shows great potential to be a powerful tool for on-line measurement in thin film manufacturing.