Summary: In this paper we make a further step towards a dispersive description of the hadronic light-by-light (HLbL) tensor, which should ultimately lead to a data-driven evaluation of its contribution to (\(g-2)_{\mu}\). We first provide a Lorentz decomposition of the HLbL tensor performed according to the general recipe by Bardeen, Tung, and Tarrach, generalizing and extending our previous approach, which was constructed in terms of a basis of helicity amplitudes. Such a tensor decomposition has several advantages: the role of gauge invariance and crossing symmetry becomes fully transparent; the scalar coefficient functions are free of kinematic singularities and zeros, and thus fulfill a Mandelstam double-dispersive representation; and the explicit relation for the HLbL contribution to \((g-2)_{\mu}\) in terms of the coefficient functions simplifies substantially. We demonstrate explicitly that the dispersive approach defines both the pion-pole and the pion-loop contribution unambiguously and in a model-independent way. The pion loop, dispersively defined as pion-box topology, is proven to coincide exactly with the one-loop scalar QED amplitude, multiplied by the appropriate pion vector form factors.