Disentangling Second Harmonic Generation (SHG) and Multiphoton Excited Photoluminescence (MEPL) signals in microscopy experiments is not an easy task. Two methods have been so far proposed based either on a time domain or a spectral domain analysis of the collected signals. In this report, a new method based on polarization discrimination is proposed to separate these SHG and MEPL contributions. In order to demonstrate this operation, intensity depth profiles are recorded for an anatase titanium dioxide powder consisting of 22 nm diameter nanoparticles using ultrafast femtosecond laser excitation. Polarization analysis of these intensity depth profiles is therefore performed and demonstrates a polarization angle shift for the SHG intensity contribution as compared to the MEPL one, allowing for the discrimination of the two SHG and MEPL contributions. The fundamental beam is set at two different wavelengths in order to provide a SHG photon energy above and below the anatase TiO2 band-gap of 3.2 eV, leading to a change in the relative intensity weight and a spectral shift between the SHG and MEPL contributions. This operation further demonstrates the potential of the method when the spectral domain disentangling cannot be performed. SHG profiles are by far narrower than those of MEPL. This study where both SHG and MEPL contributions are observed offers perspectives in photonics of powder materials as the different origin and properties of the two processes can be separated.