Linearly polarized photoluminescence is observed for type-II ZnTe/ZnSe submonolayer quantum dots (QDs). The comparison of spectral dependence of the degree of linear polarization (DLP) among four samples indicates that the optical anisotropy is mostly related to the elongation of ZnTe QDs. Numerical calculations based on the occupation probabilities of holes in px and py orbitals are performed to estimate the lateral aspect ratio of the QDs, and it is shown that it varies between 1.1 and 1.4. The value of anisotropic exchange splitting for bright excitonic states is found to be ∼200 μeV from the measurement of the degree of circular polarization as a function of the magnetic field. The results also show that heavy-light hole mixing ratio is about 0.16.