The magnetoelectric (ME) materials attracted significant attentions by their capacity of transforming the magnetic energy to the electric energy through the mediation of mechanical deformation. The ME composites can be found in three types: the laminate structure (2-2 type), the rod matrix structure (1-3 type), and the particle matrix structure (0-3 type). In this paper, we use the 3-D finite-element (FE)-based multiphysics analysis to homogenize the 0-3 type ME particulate structure (or the 1-3 type rod matrix structure). The FE analysis is performed on a representative elementary volume of the composite using the periodic boundary conditions. The homogenized material coefficients of a magnetostrictive matrix reinforced with cylindrical piezoelectric fiber composite are compared with the analytical model available from the literature. Next, the homogenization of a cubic inclusion composite, for which the analytical model does not apply, is performed.