Polaris, the nearest and brightest classical Cepheid, is a member of at least a triple system. It has a wide (18'') physical companion, the F-type dwarf Polaris B. Polaris itself is a single-lined spectroscopic binary with an orbital period of 30 years (Kamper, 1996, JRASC, 90, 140). By combining Hipparcos measurements of the instantaneous proper motion with long-term measurements and the Kamper radial-velocity orbit, Wielen et al. (2000, A&A, 360, 399) have predicted the astrometric orbit of the close companion. Using the Hubble Space Telescope and the Advanced Camera for Surveys' High-Resolution Channel with an ultraviolet (F220W) filter, we have now directly detected the close companion. Based on the Wielen et al. orbit, the Hipparcos parallax, and our measurement of the separation (0.17 arcsec), we find a mass of 4.3 +/- 1.1 Msun for the Cepheid and 1.25 +/- 0.20 Msun for the close companion. These preliminary values will be refined as a result of additional HST observations scheduled for the next 3 years. We have also obtained a Chandra ACIS-I image of the Polaris field.Two distant companions C and D do not have X-rays and hence are not young enough to be physical companions of the Cepheid. There is one additional stellar X-ray source in the field, located 253'' from Polaris A, which is a possible companion. Further investigation of such a distant companion is valuable to confirm the full extent of the system. Support for this work was provided by grants HST-GO-10593.01-A and NAS8-03060, and also Chandra grant GO6-7011A and Chandra X-ray Center NASA Contract NAS8-39073.