A gas-phase process for polymerizing one or more a-olefins in a fluidized bed reactor in the presence of a polymerization catalyst, said fluidized bed reactor being equipped with a fluidization grid arranged at its base, and external means for recycling and cooling the unreacted gas from the top of said reactor to said fluidization grid, the process being characterized by: (i) a continuous pneumatic recycle of polymer by means of a circulation loop connecting said fluidization grid to the upper region of the fluidized bed reactor; (ii) a continuous discharge of polymer from a zone of said circulation loop having a polymer concentration higher than the polymer concentration inside the fluidized polymer bed.