The complex pore structure of thermal spray coatings affects their mechanical properties, such as the elastic modulus, tensile strength and etc. The purpose of this study is to develop a new method to predict the anisotropic elastic property of thermal spray coating from the cross sectional SEM images. The finite element analysis was performed to evaluate the anisotropic elastic modulus of a porous material which consists of ellipsoidal pores. And the influences of the porosity, the aspect ratio of pore and the tilt angle of ellipsoidal pore on the anisotropic elastic modulus of porous material was investigated. From the results obtained from the FE analysis, an empirical equation to predict the anisotropic elastic modulus of thermal spray coating was proposed. The anisotropic elastic modulus of thermal spray coating could be predicted by using of the proposed equation.