Glass fiber reinforced aluminum alloy laminates, such as ARALL, GLARE are used widely for aeronautics and astronautics industry with excellent mechanical properties such as high specific strength, specific Young’s Modulus, high damage tolerance, high resistance to fatigue crack growth and good impact resistance. In order to obtain better mechanical properties, aluminum alloy plates and glass fibers were replaced by magnesium alloy plates and carbon fibers to get carbon fiber-metal laminates based on magnesium alloy. Single cantilever beams were used to examine the influence of loading rate on the interfacial fracture toughness of carbon fiber-metal laminates based on magnesium alloy. The results show that crack propagation is stable at low loading rates whereas unstable at high rates. And loading rates have slight influence on interfacial fracture toughness at low rates range from 1mm/min to 1000mm/min. The fracture toughness at high rates in impact tests is greater than at low rate.