This paper presents a numerical study to determine the homogenized (apparent) properties of vertebral trabecular bone with different threshold values using homogenization method. Series set of micro-CT images of vertebral trabecular bone was used in the present digital image-based modeling technique to reconstruct the microstructure model. Three image thresholding values were selected based on Otsu’s method. The homogenized properties that include the Young’s moduli, Poisson’s ratio and shear moduli was obtained in this study. The results showed there is significant effect of image threshold on the homogenized properties of vertebral trabecular bone model.