Natural Fiber composites are among the potential materials due to their low cost, biodegradability, environmental concerns, and other merits. This paper investigates various theoretical methods to evaluate the elastic behavior of Bamboo fiber-reinforced Epoxy composite and compare it with available experimental data. To compute elastic properties for different fiber volume fractions, prominent micromechanical models such as the Rule of mixing, Halpin-Tsai, Chamis, Unified Bridging, and Elasticity approach, as well as the most current FE homogenization simulation, are employed. FE simulation results from the advanced ANSYS 21.0 material designer module incorporating different Representative Volume Elements (RVE) (Square, Diamond, and Hexagonal) are compared with these models. Through this, a comparative analysis is provided for the validity of different models in predicting the elastic behavior of similar natural fiber-reinforced composites.