Micromechanical analysis is performed on a Al composite material containing many elliptic magnetite reinforcements by using the equivalent inclusion method combined with the Mori-Tanaka theorem. Both the macroscopic electrical conductivity and the macroscopic magnetic permeability of the composite can be successfully expressed as a function of the aspect ratio of inclusion and their changes in values can be estimated numerically with respect to the aspect ratio of reinforcement. It can be see from the numerical results that the optimal shape of the reinforcement may exist for the maximum increase in the magnetic permeability and the minimum decrease in the electrical conductivity.