The 0-3 polymer-based magnetoelectric (ME) composites have the advantages of easy preparation, low cost, good flexibility, environmental friendliness and biological affinity, etc., and have a wide range of applications prospect in the biomedical field, such as the biological microelectronics, nanomedicine technology treatment, bone tissue healing and so on. The ME performance of this composite is jointly contributed by the properties of its component and microstructure. In this work, considering the impact of interphase effect, and the relationship between the effective properties of 0-3 ME composites and its microstructure is established, and the expressions of the Young's modulus, permeability, dielectric coefficient, piezoelectric coefficient, piezomagnetic coefficient and ME coefficient are obtained respectively. The effects of interphase properties and particle sizes on the effective properties of ME composites are discussed. By comparison, our theoretical results are in good agreement with experimental data. Then the influence of some factors on its effective performance is discussed. The results show that the effective properties of 0-3 ME composites are strongly dependent on the volume fraction ratio and size of the particles, the applied magnetic field. There is an optimal volume ratio and magnetic field to maximize ∂ α E 33 /∂ H 3 .