Multilayered wire‐grid polarizers (WGP) find application as low‐reflection polarizers in projection‐type liquid crystal display devices. A multilayered WGP is formed by adding thin layers on top of the metal ridges of an ordinary WGP. The ordinary WGP consists of a periodic array of parallel metal ridges, where the period of the array and the width of any individual metal ridge are typically less than the wavelength of the incident light. Such WGPs are often used as efficient polarizers. However, in certain applications, it is important to reduce the reflection from the WGP while preserving the polarization efficiency. One of the ways to achieve this goal is to add thin layers on top of the metal ridges of the ordinary WGP. The reduction in reflection from the multilayered WGP depends on the number and material of these additional layers. In this paper, we describe a design method for multilayered WGPs based on an effective medium theory, thin‐film computation method and a monochromatic recursive convolution finite‐difference time‐domain algorithm. The goal of design process is to identify suitable materials and thicknesses for the additional thin layers needed to lower the reflection appreciably. The design method is explained with the help of bilayered WGPs.