Micromechanical analysis is performed on a Ni-Zn-Cu ferrite composite material containing many PbTiO_3 elliptic reinforcements by using the equivalent inclusion method combined with the Mori-Tanaka theorem. Both the macroscopic dielectric constant and the macroscopic magnetic permeability of the composite can be successfully expressed as a function of the aspect ratio of reinforcement and their changes in values can be estimated numericallly with 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 dielectric constant and the minimum decrease in the magnetic permeability.