We have developed a microelastical phase-field model to incorporate elastic energy and misfit stresses in eutectic growth. We apply the model to assess the formation of eutectic structures in Ti-Fe alloy, which exhibit high lattice mismatch owing to difference between lattice parameters of beta-Ti and FeTi phases. Numerical simulations of both directional and free eutectic growth are performed by applying cubic anisotropy to the Ti-Fe system. The resulted microstructures are presented and the corresponding stress distributions are evaluated. (C) 2012 Elsevier B.V. All rights reserved.