We experimentally investigate the laser polarization effect on the supercontinuum (SC) generation through femtosecond laser filamentation in air. By tuning filamenting laser ellipticity from linear polarization to circular polarization, the spectral intensity of the SC after filamentation gradually increases, while the spectral bandwidth of the SC continuously decreases. The laser ellipticity-dependent spectral intensity modulation of the SC is stronger at higher filamenting pulse energy. Laser energy deposits more in linearly polarized laser filaments than in circularly polarized laser filaments. The experimental results are supported by numerical simulations. A physical picture based on the laser ellipticity-dependent clamped intensity inside the filament, together with the Kerr nonlinearity and plasma related self-phase modulations, is proposed to explain the observation.