This article considers the peculiarities of using circular orthogonal polarization basis for measuring the parameters of an electromagnetic wave. In particular, the angle of inclination of the major axis of the polarization ellipse and the ellipticity coefficient are among measuring parameters. The main expressions for calculation of field parameters in circular and linear orthogonal polarization basis are developed and analyzed. The advantages of using the ring as a measuring antenna in comparison with symmetrical vibrators of the turnstile antenna are substantiated. The expressions obtained in the article for calculating the measurement errors of polarization parameters in a linear orthogonal polarization basis illustrate the multifactorial dependence of the measurement accuracy on the angular and amplitude parameters. In contrast to the linear polarization basis, in case of circular basis, the inclination angle of the polarization ellipse axis can be found by direct measurements of the phase shift, and the accuracy of measuring the ellipticity coefficient is affected only by the error of measuring the ratio of voltage amplitudes, which are proportional to the modules of the field strength vectors of the left and right directions of the circular polarization rotation. This provides better potential accuracy of measurement for the electromagnetic wave parameters when using circular polarization antennas and, correspondingly, more reasonable analysis in the circular orthogonal polarization basis.