The effective modulus of transversely isotropic compound material containing aligned ellipsoidal inhomogeneity is derived using the method of sphere-equivalency of effective scattering. Based on this approach, we derive the integral solution of the Eshelby tensor for the anisotropic medium, allowing for numerically evaluating the effects of anisotropy for the solution. The numerical results show that the effective modulus of the medium decreases monotonically with increasing the concentration of the inhomogeneties. The anisotropy increases if the inhomogeneity alignment direction is perpendicular to the TI symmetry axis of the background medium. By reducing the numbers of matrix elastic modulus from 5 to 2, we calculate the slowness surfaces for the three modes of propagation in an isotropic medium containing aligned ellipsoidal inhomogeneity. The results are the same as the existing ones, which validates the exactness of our theory. The modeling results can be used to evaluate elastic property of an anisotropic medium with aligned inclusions, such as earth formation shale rocks containing aligned cracks.