The computation of the arctangent of a complex number, i.e. the atan2 function, is frequently needed in hardware systems that could profit from an optimized operator. In the present work we present a novel method to compute the atan2 function and a hardware architecture for its implementation. The method is based on a First Stage that performs a coarse approximation of the atan2 function and a Second Stage that improves the output accuracy by means of a look-up table. We present results for fixedpoint implementations in an FPGA device, all of them guaranteeing last-bit-accuracy, which provide an advantage in latency, speed and use of resources, when compared with well-established fixed-point options.