In order to reflect transforming rules of parameter in the course of the forming and penetration of LEFP, through reasonable designing of parameters of LEFP, use LS-DYNA 3D finite element analysis software and the arbitrary Lagrangian-Eulerian(ALE) to establish three-dimensional numerical model including dynamite, liner, cover and air. Based on analyzing the process of liner explosive formation penetration (LEFP) formation, research on 45 steel target penetrated by LEFP, numerical simulation was in accordance with the experiment, the result shows that numerical analysis is reasonable. It could provide the reference to design LEFP.