An efficient numerical algorithm is proposed to accurately compute the elastic fields in two-dimensional (2D) or three-dimensional (3D) microstructures with arbitrary elastic inhomogeneity and anisotropy. It combines the equivalent inclusion method of Eshelby, the microelasticity theory of Khachaturyan, and the spectral iterative perturbation method of Hu and Chen. Its efficiency is compared with those of existing approaches in the literature. The method can be conveniently implemented in phase-field modeling of stress-dependent microstructure evolution and/or of mass/electrical transport. © 2012 Copyright Taylor and Francis Group, LLC.