Abstract: For their excellent mechanical, physical and chemic performance, metallic glasses and their composite materials is becoming as an active research focus now. Especially, metallic glass matrix composite may be employed as the material of kinetic enrgy penetrator for its intense shear banding sensitivity. The present paper introduces the research advance up-to-date on the compressive shear characteristics and self-sharpening behavior of metallic glasses and their composite materials during the high-speed impact. The related experimental research, theoretical analysis and FEM simulations are reviewed, and also some future research proposals are made.