To support the structural design of ceramic/metal composite armor, the anti-penetration performance and energy dissipation mechanisms of ceramic/metal composite armor under different base materials and distribution gradients was studied to optimize the structural design of the armor. A varied-gradient ceramic/high-entropy alloy composite material was prepared using combustion synthesis method assisted by an ultra-high gravity field, XRD (X-ray diffraction analysis) and SEM (scanning electron microscope) tests confirmed the varied-gradient distribution of the ceramics. The influence of the varied-gradient ceramic/high-entropy alloy composite on penetration resistance and stress wave propagation was simulated and subsequently verified through target tests. It is found that the greater the distribution gradient of the ceramic and the higher the yield strength of the metal matrix, the better the penetration resistance of the target plate. Stress waves propagated in a divergent manner due to the varying material properties of gradient composite materials along the thickness direction, which reducing the intensity of the stress wave and delaying reflection tensile wave to reach the peak, thereby increasing the interaction time between the projectile and the target, and improving the ability of the composite material to dissipate the kinetic energy of the projectile.