In this work, an improved anisotropic k-ε-v2-f model based on the finite extensible nonlinear elastic model with the Peterlin approximation for viscoelastic channel flows is proposed. This model is tested using direct numerical simulation (DNS) data for friction Reynolds numbers (Reτ) in the range of 120–1000, friction Wiesenberg numbers (Wiτ) in the range of 25–116, viscosity ratios (β) in the range of 0.6–0.9, and maximum polymer extensibility values (L2) in the range of 900–14 400. The flow characteristics of viscoelastic fluids with various parameters obtained from the new model agree well with existing DNS results. By adding closures for the flow, shear, and transverse components, the incomplete prediction of nonlinear terms from interactions between the fluctuating components of the conformation and velocity gradient tensors is improved. Compared with DNS results, these closures can fully obtain each component and significantly improve the accuracy of the flow direction component in the intermediate and high drag reduction regimes. Furthermore, the model in this paper retains the advantages of an anisotropic model, does not require a damping function, is simple to construct, and is easily extended to a variety of bounded flows.