Aiming at the terminal attack problem of multiple loitering munitions, a new biased proportional guidance law is proposed to realize the attack time coordination of each loitering munitions (LM). Based on the consistency theory of second order system and considering the convergence requirements of the distance between missile and target and the approaching velocity of missile and target, the cooperative variables are normalized, and the consensus algorithm with saturated odd function and fast convergent odd function is designed. The convergence of the consensus algorithm is proved by Lyapunov function; Combined with the missile-target relative motion model, the bias proportional guidance law is derived from the lateral error equation in the velocity-view plane, and the guidance command is projected to the reference coordinate system. The simulation results show that the impact point error of the designed cooperative guidance law is kept within 1 m, and it has good robustness to the switching of communication adjacency matrix and noise interference, and can realize the cooperative strike mission of multiple cruise missiles.