A temperature-insensitive polarization filter and a neotype sensor based on a hybrid-circular-hole microstructured optical fiber (MOF) are proposed. Numerical investigations demonstrate that the x polarized component of silica core mode can couple to the cladding mode in the researched wavelength, while the y polarized component would not. Furthermore, the resonant region can be controlled by changing the diameters or coordinates of the air holes, and the MOF has good performance on stability of temperature. Moreover, the hybrid-circular-hole structure is propitious to selectively integrate different functional materials. Two different materials are integrated into this proposed MOF, the application of the Sagnac interferometer in temperature sensing is studied, and two groups of dips would be observed in the transmission spectra, which have different temperature sensitivities. Therefore, the proposed MOF can be used as a flexible temperature-insensitive polarization filter or potentially applied to a two-parameter sensor.