To achieve an effective evaluation of the damage power of all-energetic penetration warhead， a test system for damage power assessment was established based on the 125mm artillery， accompany by a description in multiple physical fields from various aspects such as penetration， reaming， high temperature， high pressure， and arson ignition by arson. Results show that a 16 kg warhead can penetrate a 5-layered steel target at a speed of 952 m·s^-1 to form strong fire which lasts for about 120 ms， with a maximum diffusion range of over 6 m×10 m and a maximum temperature of about 2100 ℃. Compared with the inert warhead， the gains of temperature and overpressure at 1.2 m are about 1270 ℃ and 0.16-0.5MPa， respectively， and the cumulative gain of the broken hole area of 5-layered steel target reaches beyond 300%. Moreover， the warhead has a good arson ignition effect on the fuel tank.