The effect of the adhesive thickness and elastic modulus on the stress distribution in the mid-bondline of the adhesively-bonded steel/steel joint under impact loading is analyzed using 3-D finite element method (FEM). The results show that the stress distributed in bondline near the interface was significantly affected by the adhesive thickness and the elastic modulus. When the thickness increased from 1 mm to 2 mm, the values of all the stress components increased evidently along the upper edge of the adhesive but decreased significantly along the lower edge near the loading face. When the elastic modulus of the adhesive was increased, all the stresses increased along either the upper or the lower edge. It is clear that the suitable thickness and the elastic modulus of the adhesive are very important when the adhesively bonded joints subjected to the impacting load.