ABSTRACT We employ our new model for the polarized emission of accreting X-ray pulsars to describe the emission from the luminous X-ray pulsar Hercules X-1. In contrast with previous works, our model predicts the polarization parameters independently of spectral formation, and considers the structure and dynamics of the accretion column, as well as the additional effects on propagation due to general relativity and quantum electrodynamics. We find that our model can describe the observed pulse fraction and the pulse shape of the main peak, as well as the modulation of the cyclotron line with phase. We pick two geometries, assuming a single accretion column or two columns at the magnetic poles, that can describe current observations of pulse shape and cyclotron modulation with phase. Both models predict a high polarization fraction, between 60 and 80 per cent in the 1–10 keV range, that is phase and energy dependent, and that peaks at the same phase as the intensity. The phase and energy dependence of the polarization fraction and of the polarization angle can help discern between the different geometries.