Three?dimensional Hashin criterion is used as the damage criterion for fiber bundle, and the corresponding material degradation programme is formulated according to the different damage modes of the material. Morever, the strength performance of the material is modified considering the strain rate effect. The progressive damage analysis model of the composite laminate with hole is established to simulate the damage failure process of the material under different strain rates. Through dynamic tensile tests, the load-displacement curves of the material at different strain rates and the time-strain curves at different positions of the hole edge are obtained. The influence of strain rate on the tensile properties of the material and the stress concentration at the hole edge of the specimen are discussed. The finite element analysis results are consistent with the experimental data, which proves the correctness and validity of the analysis model proposed in this paper.