Understanding the elastic properties of polymer‐based materials is essential for many applications (e.g., biofibers, coatings, interfacial fillers, organics semiconductors). Often those materials are anisotropic, posing a challenge for characterizing their direction‐dependent elasticity. As an optical technique, Brillouin light spectroscopy (BLS) allows determination of the complete elastic tensor of materials in a noncontact, nondestructive manner. The elastic properties of many polymer‐based materials have been investigated by BLS in the past five decades. In this review, we present the working principles of BLS and a few recent applications of BLS to the determination of the complete elasticity of polymer‐based, nanostructured, anisotropic materials. Considering its unique power in elasticity characterization, we expect BLS to find more applications in the future, particularly in the research fields of materials science, biomedical science, biomechanics, and nanotechnology.