According to the features of high velocity rod-shaped projectile and classical theory of shaped jet, formation qualifications of high velocity rod-shaped projectile were analyzed and some design guidelines were put forward. Ｔhe shaped charge with modified hemispherical liner was simulated by LS-DYNA software. The formation process and mechanism of the high velocity rod-shaped projectile were obtained. The effects of structural parameters of liner and initiation methods on projectile formation and performance parameters were shown by simulation, the interrelations of structural parameters of liner were preliminarily fixed on: the inner radius of liner R₁=(0.55-0.6)D, outer radius R2=(0.58-0.62)D, height H=(0.3-0.35)D, half cone angle α＝82°-86°, where D is diameter of liner.