This will work for all aquarium equipment, including sponge filters and nets:
Dilute regular household bleach (no detergents or fragrances added) 1 part to 9 parts warm water. Soak for 15 minutes and rinse with water. Rinse again. Rinse, rinse, rinse, rinse, rinse. Rinse one more time. (Actually, I just throw the stuff in the tub and let the shower run on it for about half an hour while I do something else.) If you want to use the disinfected item immediately, rinse it off one final time in water + dechlorinator. Otherwise, allow it to air dry, and the chlorine will decompose and evaporate.
Some people rinse off the sponge filter in clean water, squeeze it out, and microwave for 30 sec. This works fine, but I'm just squeamish about putting fish stuff in my microwave.