2D black phosphorus (BP) has attracted extensive attention as an anisotropic platform for novel optoelectronic and polarizing optics applications. Insight into the factors that tune the optical and polarizing properties of 2D BP reveals their essential influence on BP-based photonic and optoelectronic devices. In this work, studies of the optical constants of few-layer black phosphorus coatings are studied and discussed, with particular emphasis on the complex dielectric function. Herein, the complex optical constants of multi-flake composite films in the energy range of 1.38–6.2 eV by spectroscopic ellipsometry with the use of the classical optical model have been determined. Classical optical simulations were supplied by dielectric function estimations delivered by density functional theory. Additionally, few-layer black phosphorus coatings were imaged by polarizing microscopy and investigated by Raman spectroscopy, revealing a size-tunable flake composition. The pattern analysis of the polarization images reveals a shift in polarization anisotropy originated mainly from the central region of the flake. The semi-isotropic optical properties suggest that the extinction coefficient of BP flakes defines the applications of BP in photonics, waveguides, and directional optoelectronic devices.