An independent set in a graph is a set of pairwise non-adjacent vertices. Let $α(G)$ denote the cardinality of a maximum independent set in the graph $G = (V, E)$. Gutman and Harary defined the independence polynomial of $G$ \[ I(G;x) = \sum_{k=0}^{α(G)}{s_k}x^{k}={s_0}+{s_1}x+{s_2}x^{2}+...+{s_{α(G)}}x^{α(G)}, \] where $s_k$ denotes the number of independent sets of cardinality $k$ in the graph $G$. A comprehensive survey on the subject is due to Levit and Mandrescu, where some recursive formulas are allowing to calculate the independence polynomial. A direct implementation of these recursions does not bring about an efficient algorithm. Yosef, Mizrachi, and Kadrawi developed an efficient way for computing the independence polynomials of trees with $n$ vertices, such that a database containing all of the independence polynomials of all the trees with up to $n-1$ vertices is required. This approach is not suitable for big trees, as an extensive database is needed. On the other hand, using dynamic programming, it is possible to develop an efficient algorithm that prevents repeated calculations. In summary, our dynamic programming algorithm runs over a tree in linear time and does not depend on a database.