We present a simple and fast algorithm for computing the N -th term of a given linearly recurrent sequence. Our new algorithm uses O(M(d) log N ) arithmetic operations, where d is the order of the recurrence, and M(d) denotes the number of arithmetic operations for computing the product of two polynomials of degree d. The stateof-the-art algorithm, due to Charles Fiduccia (1985), has the same arithmetic complexity up to a constant factor. Our algorithm is simpler, faster and obtained by a totally different method. We also discuss several algorithmic applications, notably to polynomial modular exponentiation, powering of matrices and high-order lifting.