Channel state information (CSI) feedback is critical for achieving the promised advantages of enhancing spectral and energy efficiencies in massive multiple-input multiple-output (MIMO) wireless communication systems. Deep learning (DL)-based methods have been proven effective in reducing the required signaling overhead for CSI feedback. In practical dual-polarized MIMO scenarios, channels in the vertical and horizontal polarization directions tend to exhibit high polarization correlation. To fully exploit the inherent propagation similarity within dual-polarized channels, we propose a disentangled representation neural network (NN) for CSI feedback, referred to as DiReNet. The proposed DiReNet disentangles dual-polarized CSI into three components: polarization-shared information, vertical polarization-specific information, and horizontal polarization-specific information. This disentanglement of dual-polarized CSI enables the minimization of information redundancy caused by the polarization correlation and improves the performance of CSI compression and recovery. Additionally, flexible quantization and network extension schemes are designed. Consequently, our method provides a pragmatic solution for CSI feedback to harness the physical MIMO polarization as a priori information. Our experimental results show that the performance of our proposed DiReNet surpasses that of existing DL-based networks, while also effectively reducing the number of network parameters by nearly one third.