The conventional SLT(Shear Lag Theory) which has been proven that it can not provide sufficiently accurate strengthening predictions in elastic regime when the fiber aspect ratio is small. This paper is an extented work to improve it by modifying the load transfer mechanism called NSLT(New Shear Lag Theory), which takes into account the stress transfer across the fiber ends and the SCF(Stress Concentration Factor) that exists in the matrix regions near the fiber ends. The key point of the model development is to determine the major controlling factor among the material and geometrical coefficients. It is found that the most affecting factor is the fiber/matrix elastic modulus ratio. It is also found that the proposed model gives a good result that has the capability to correctly predict the elastic properties such as interfacial shear stresses and local stress variations in the small fiber aspect ratio regime.