The elastic moduli of bulk polyethylene having a spherulitic structure are determined by the multistep method described in a previous paper. It is pointed out that the properties of the regular symmetrical spherulite are spherically isotropic (that is to say, the properties are the same in all directions tangent to a series of concentric spheres) and can be characterized by the same elastic constants as those of a cylindrical spherulite. The effective moduli of spherulitic polyethylene are then computed from the properties of individual spherulites by the self‐consistent scheme of Hershey, Kerner, and Kroner. The results agree very well with existing experimental data for Young's modulus and shear modulus. The predicted bulk modulus is found to be strongly dependent on the estimated Poisson's ratio of amorphous polyethylene.