During processing of fiber composites, the fiber-induced stresses influence the local flow fields, which, in turn, influence the stress distribution and the fiber orientation. Therefore, it is crucial to be able to predict the rheology of fiber-filled polymer composites. In this study, we investigate the fiber orientation kinetics and rheological properties of fiber composites in uniaxial extensional flow by comparing direct numerical finite element simulations to experimental results from our previous study [Egelmeers et al., “In-situ experimental investigation of fiber orientation kinetics during uniaxial extensional flow of polymer composites,” J. Rheol. 68, 171–185 (2023)]. In the simulations, fiber–fiber interactions only occur hydrodynamically and lubrication stresses are fully resolved by using adaptive meshing. We employed a 7-mode and a 5-mode viscoelastic Giesekus material model to describe the behavior of, respectively, a strain hardening low-density polyethylene (LDPE) matrix and a non-strain hardening linear LDPE matrix, and investigated the influence of the Weissenberg number, strain hardening, and fiber volume fraction on the fiber orientation kinetics. We found that none of these parameters influence the fiber orientation kinetics, which agrees with our experimental data. The transient uniaxial extensional viscosity of a fiber-filled polymer suspension is investigated by comparing finite element simulations to a constitutive model proposed by Hinch and Leal [“Time-dependent shear flows of a suspension of particles with weak Brownian rotations,” J. Fluid Mech. 57(4), 753–767 (1973)] and to experimental results obtained in our previous study [Egelmeers et al., “In-situ experimental investigation of fiber orientation kinetics during uniaxial extensional flow of polymer composites,” J. Rheol. 68, 171–185 (2023)]. The simulations describe the experimental data well. Moreover, high agreement is found for the transient viscosity as a function of fiber orientation between the model and the simulations. At high strains for high fiber volume fractions, however, the simulations show additional strain hardening, which we attribute to local changes in microstructure.