Based on Mie scattering theory, we derive the complete dynamic polarizability tensor for circular, azimuthally symmetric cylinders excited by an arbitrary field distribution, and provide compact expressions for all of its elements. Our results comprise fully dynamic cylinder polarizabilities, improving existing approximate models that use averaged electric ormagnetic current lines to describe the scattering response of moderately thin cylinders. We show that the derived polarizability tensor satisfies reciprocity and passivity relations, and analyze its response under different conditions, varying the excitation angle, material properties, and cylinder radius. Interestingly, magnetoelectric effects are shown to arise at oblique incidence, even in the case of centrosymmetric achiral thin cylinders, associated with a weak form of spatial dispersion. This finding is particularly relevant for the proper modeling of individual cylinders and arrays of them, as in the case of metamaterials. We expect this work to find applications in antenna and metamaterial design, and to improve the physical understanding of the wave interaction and spatial dispersion in artificial materials composed of elongated inclusions such as wire media. pm