This paper presents an attempt to extend homogenization analysis for the effective elastic moduli of triangular lattice materials with microstructural defects. The proposed homogenization method adopts a process based on homogeneous strain boundary conditions, the micro-scale constitutive law and the micro-to-macro static operator to establish the relationship between the macroscopic properties of a given lattice material to its micro-discrete behaviors and structures. Further, the idea behind Eshelby’s equivalent eigenstrain principle is introduced to replace a defect distribution by an imagining displacement field (eigendisplacement) with the equivalent mechanical effect, and the triangular lattice Green's function technique is developed to solve the eigendisplacement field. The proposed method therefore allows handling of different types of microstructural defects as well as its arbitrary spatial distribution within a general and compact framework. Analytical closed-form estimations are derived, in the case of the dilute limit, for all the effective elastic moduli of stretch-dominated triangular lattices containing fractured cell walls and missing cells, respectively. Comparison with numerical results, the Hashin–Shtrikman upper bounds and uniform strain upper bounds are also presented to illustrate the predictive capability of the proposed method for lattice materials. Based on this work, we propose that not only the effective Young’s and shear moduli but also the effective Poisson’s ratio of triangular lattice materials depend on the number density of fractured cell walls and their spatial arrangements.