Evaluation of constitutive properties of cancellous bone and their relationships to microstructural parameters is a crucial issue in analysis of stresses and strains in bone tissues and simulation of their remodelling. Known limitations of experimental methods as well as of the micro-FE techniques make the analysis and homogenization of ‘equivalent’ trabecular microstructures an advantageous tool for this task. In this study, parameterized orthotropic constitutive models of cancellous bone are derived from finite element analysis of repeatable microstructure cells. Two cell types are analysed:​ cube- and prism-based. The models are fully three-dimensional, have realistic curvilinear shapes and are parameterized with three shape parameters. Variation of the parameters allows to imitate most of the typical microstructure patterns observed in real bones, along with variety of intermediate geometries. Finite element models of cells are generated by a special-purpose structured mesh generator for any arbitrary set of shape parameter values. Six static numerical tests are performed for an exhaustive number of parameter value sets (microstructure instances). Multi-point boundary conditions imposed on the models ensure mutual fitting of deformed neighbouring cells. Values of computed stresses allow to determine all coefficients of elastic orthotropic stiffness matrix. Results have a form of tabularized functions of elastic constants versus the shape parameters. Comparison of the results with micro-FE data obtained for a large set of cancellous bone specimens proves a good agreement, though evidently better in the case of the prism-based cell model.