In this paper, the film of aligned metal filled carbon nanotubes embedded in an insulating host medium is considered. The films with the carbon nanotubes perpendicular and parallel to the surface are called β aligned and α aligned, respectively. The α-aligned films present the properties with the birefringent, reflecting differences in the dielectric function for light polarized along (s polarization) and normal (p polarization) to the nanotubes. By the effective medium approximation (EMA) method, this paper presents the investigation of the optical properties of nanocomposite with α-aligned metal filled carbon nanotubes embedded in an insulating host medium. The effects of size of carbon nanotube and dielectric function of the host medium on the effective dielectric function are discussed.