In order to research the effect of explosive material on the formation of EFP, this paper studies the effect of five different explosive materials, PETN, SEP, TNT, PE4BOOSTER and 8701, on forming EFP, using ANSYS/LS-DYNA simulation software. It obtained the influence of the material character of the explosive on the formation parameters of EFP, such as velocity and length-diameter ratio. It can be found that, when the density of explosive increases from 1.26g/cm3 to 1.7g/cm3, the velocity of EFP increases by 50.8%, and the length-diameter ratio improves by 2.16 times. It is good to choose the explosive with high energy and speed in design charge warhead at the same condition. The simulation results were validated through X-ray imaging experimentation. Both results are in agreement well.