To improve the damage power.of anti-armor and anti-personnel composite warhead, the effect of charge-shell weight ratio on the armor-penetrating and killing power of warhead was researched. The formation and killing radius of fragments were calculated by theoritical analysis mehtod when the charge-shell mass ratio of warhead increased from 0.71 to 2.00. A non-linear finite element software, LS-DYNA, was used to compare and analyze the depth of armor penetration by molding jet when the charge-shell mass ratio of warhead was 0.80, 1.00, 1.20, 1.40 and 1.60, and the relationship of the charge-shell mass ratio vs. the killing radius of fragments and the depth of armor penetration by molding jet was obtained. Results show that the killing radius increases from 9.1 m to 10.2 m with the increase of charge-shell mass ratio from 0.71 to 1.86. The killing radius doesn′t increase anymore when the charge-shell mass ratio increases to 2.00. The average weight of fragments decreases with the increase of charge-shell mass ratio.The depth of armor penetration decreases first and then increases with the increase of charge-shell mass ratio from 0.80 to 1.60, and the maximum perforation deep is 143.30 mm.