It is difficult to implement the material equivalent using the method of experiment in the field of the target damage research. This paper uses a simulation method based on non-linear dynamical software to study the material equivalent under the action of shaped charge warhead. With Euler-Lagrange method, a large number of numerical calculations were carried out using AUTODYN, a non-linear dynamics software. According to calculation results, comparing parameters such as jet tip velocity, penetration depth and consuming time, etc., the optimum stand-off of the shaped charge corresponding with some conic angle is identified. On the basis of above results, the equivalent coefficient between some armored steel and 45 steel is obtained by using the method of anti-armor residual velocity. According to the method, at the same optimum stand-off, the relative velocity is the same after the same jet penetrates different material targets with different thickness, which means that the different thickness is equivalent. The equivalent coefficient is about 1.75 for some newest armor steel and 45 steel. Research results provide an equivalent target setting for warhead damage efficiency checkup tests.