Photoinduced polarization and orbit-orbit interaction are important issues in hybrid perovskites toward developing optoelectronic functionalities. This paper identifies that photoinduced polarization occurs in hybrid perovskites with mixed-cation methylammonium (MA)/formamidinium (FA) (MA x FA (1−x) PbI 3) by measuring bulk polarization at 1 MHz in a magnetic field. Interestingly, when the internal dipole moment is increased upon increasing the MA:FA ratio, the photoinduced dipolar polarization can be substantially enhanced, clarifying the controversial issue of whether photoexcitation can induce a dielectric polarization within dipolar polarization regime in hybrid perovskites. Furthermore, upon increasing photoinduced dipolar polarization, it is found that the intrinsic orbit-orbit interaction between excitons can be increased, revealed by monitoring photocurrent change (ΔJ sc) upon switching the photoexcitation between linear and circular polarizations. This presents that organic cations are directly involved in the orbit-orbit interaction within band structures. Clearly, the studies provide an insightful understanding of the dipole moment effects on photoinduced dipolar polarization and orbit-orbit interaction between excitons in hybrid perovskites toward controlling the optoelectronic properties.