The physical chemistry parameters of some powdery AN-TNT-FO explosives were given in this paper. The mathematical model for formulation design of powdery AN-TNT-FO explosivesis was studied. The calculated formulation of the mathematical model for the formulation design of AN-TNT-FO explosives which has the same raw material cost as that of AN-TNT-FO explosives now available was reported. The theoretic formulations are compared with the formulations of powdery AN-TNT-FO explosives which are being made in our country and the suggestion of formulation improvement is made.