A class of generally nonlinear dynamical systems is considered, for which the Lagrangian is represented as a sum of homogeneous functions of the displacements and their derivatives. It is shown that an energy partition as a single relation follows directly from the Euler–Lagrange equation in its general form. The partition is defined solely by the homogeneity orders. If the potential energy is represented by a single homogeneous function, as well as the kinetic energy, the partition between these energies is defined uniquely. For a steady-state solitary wave, where the potential energy consists of two functions of different orders, the Derrick–Pohozaev identity is involved as an additional relation to obtain the partition. Finite discrete systems, finite continuous bodies, homogeneous and periodic-structure waveguides are considered. The general results are illustrated by examples of various types of oscillations and waves: linear and nonlinear, homogeneous and forced, steady-state and transient, periodic and non-periodic, parametric and resonant, regular and solitary.