The vibration and acoustic transmitting experiments and digital simulation were carried out on AZ31 magnesium sheet and magnesium honeycomb panels. The results show that the vibration characteristics and acoustic transmission loss (TL) of honeycomb panel are related to magnesium sheet and honeycomb core parameters. In full audible frequency spectra, TL of various honeycomb panels behaves in a similar manner, and the TL increases with the frequency at higher frequency. Damping enhancements of honeycomb panels contribute better vibration insulation. Vibration analysis shows that the dangerous positions are located in no-strutting areas.