A Monte Carlo model has been developed to study the spin polarization of secondary electrons emitted from magnetic materials. The spin direction of the generated secondary electrons is considered, and the spin-dependent inelastic mean free paths for spin-up and spin-down electrons are introduced to trace the secondary electrons in the simulation. Good agreement with respect to the energy distribution, including the enhancement at low energy and fine structure at higher energies in the secondary electron energy regime, can be found between the simulated polarization and the experimental data. The simulated primary energy dependence of the spin polarization is also found to agree reasonably well with the experimental data.