SummaryThe bonded discrete element model (DEM) is a numerical tool that is becoming widely used when studying fracturing, fragmentation, and failure of solids in various disciplines. However, its abilities to solve elastic problems are usually overlooked. In this work, the main features of the 2D bonded DEM which influence Poisson's ratio and Young's modulus, and accuracy when solving elastic boundary value problems, are investigated. Outputs of numerical simulations using the 2D bonded DEM, the finite element method, a hyper elasticity analysis, and the distinct lattice spring model (DLSM) are compared in the investigation. It is shown that a shear interaction (local) factor and a geometric (global) factor are two essential elements for the 2D bonded DEM to reproduce a full range of Poisson's ratios. It is also found that the 2D bonded DEM might be unable to reproduce the correct displacements for elastic boundary value problems when the represented Poisson's ratio is close to 0.5 or the long‐range interaction is considered. In addition, an analytical relationship between the shear stiffness ratio and the Poisson's ratio, derived from a hyper elasticity analysis and applicable to discontinuum‐based models, provides good agreement with outputs from the 2D bonded DEM and DLSM. Finally, it is shown that the selection of elastic parameters used the 2D bonded DEM has a significant effect on fracturing and fragment patterns of solids.