Elastic fabric bandages exhibit great potential in covering the body contours due to their tensile and comfort performance being well-regulated by their fibrous structure. However, achieving low-coast and facile preparation methods for the fabric bandage with directional tensile performance remains a significant challenge. In this work, a cellulose/polyester composite fabric reinforced by polyolefin−elastomer filament webs (CEL/PET@ POE composite fabrics) was developed by a green and commercialized manufacturing strategy involving a laminating, cross-lapping, and needle-punching process. The resultant composited fabrics possess a multilayered fibrous morphology where fibers are aligned at −45°, 0°(along the longitude direction, i.e., length direction of the fabrics), and +45°. Besides, the POE filaments interweave amid the cellulose/polyester fibrous clusters, resulting in a stable network fibrous structure that offers excellent anisotropic elastic performance and directional extension performance. The fabric displays a breaking strength and elongation in the cross direction that are 2.7 and 0.55 times greater, respectively, compared to those in the machine direction. Moreover, the samples demonstrate brilliant breathability, excellent wearing comfort, and outstanding shape ability. These findings suggest that the prepared CEL/PET@POE composite fabric provides a powerful foundation for a series of potential applications in wearable medical hygiene, such as bandages, electronic textiles, and padding materials.