A novel model is constructed for solving elastohydrodynamic lubrication (EHL) of multilayered materials. Because the film thickness equation needs the term of the deformation caused by pressure, the key problem for the EHL of elastic multilayered materials is to develop a method for calculating their surface deformations, or displacements, caused by pressure. The elastic displacements and stresses can be calculated by employing the discrete-convolution and fast Fourier transform (DC-FFT) method with influence coefficients. For the contact of layered materials, the frequency response functions (FRFs), relating pressure to surface displacements and stress components, derived from the Papkovich–Neuber potentials are applied. The influence coefficients can be obtained by employing FRFs. The EHL of functionally graded material (FGM) can also be well solved using a multilayer material system. The effects of material layers and property gradient on EHL film thickness and pressure are further investigated.