The propagation of a relativistic electron-positron beam in a magnetized electron-ion plasma is studied, focusing on the polarization of the radiation generated in this case. Special emphasis is laid on investigating the polarization of the generated radiation for a range of beam-plasma parameters, transverse and longitudinal beam sizes, and the external magnetic fields. Our results not only help in understanding the high degrees of circular polarization observed in gamma-rays bursts but they also help in distinguishing the different modes associated with the filamentation dynamics of the pair-beam in laboratory astrophysics experiments.