The proposed characterization method is based on the knowledge of free vibration characteristics of plate specimens. Effective laminate properties are estimated through minimization of the error between known and predicted natural frequencies. Metamodeling is used for approximating the relationship between the material properties and the corresponding natural frequencies. This results in an economical characterization process, applicable to a large number of specimens of various shapes and dimensions. The proposed strategy is first tested on a range of hypothetical composite materials with numerically simulated test results, then applied to reliable published experimental data. It is thus shown to have the potential of a fast and accurate, in-situ characterization tool.