We present the results of numerical simulation of magnetodielectric effect (MDE) in magnetorheological elastomers (MRE)—the change of effective permittivity of elastomer placed under the external magnetic field. The computer model of effect is based on an assumption about the displacement of magnetic particles inside the elastic matrix under the external magnetic field and the formation of chain-like structures. Such displacement of metallic particles between the planes of capacitor leads to the change of capacity, which can be considered as a change of effective permittivity of elastomer caused by magnetic field (magnetodielectric effect). In the literature, mainly the 2D approach is used to model similar effects. In this paper, we present a new approach of magnetorheological elastomers simulation—a 3D-model of the magnetodielectric effect with ability to simulate systems of 10 5 particles. Within the framework of the model, three types of particle size distributions were simulated, which gives an advantage over previously reported approaches. Lognormal size distribution was shown to give better qualitative match of the modeling and experimental results than monosized type. The developed model resulted in a good qualitative agreement with all experimental data obtained earlier for Fe-based elastomers. The proposed model is useful to study these novel functional materials, analyze the features of magnetodielectric effect and predict the optimal composition of magnetorheological elastomers for further profound experimental study.