Dispersion of elementary excitations is investigated based on the system of quantum hydrodynamics equations for the polarized Bose–Einstein condensate in the third order by the interaction radius. The dispersion law is analytically derived. The contribution of polarization to dispersion of the Bogolyubov mode is investigated. It is demonstrated that a new type of elementary excitations caused by evolution of polarization arises in the Bose–Einstein condensate whose atoms possess an electric dipole moment.