Investigated is the deformation and fracture of a material with multilayer coating under high-rate shock wave loading. Boundary-value dynamic problem in three-dimensional formulation is solved numerically by the finite-element method. Multilayer coating is taken into account explicitly in calculations. To simulate mechanical response of the steel substrate, missile and NiAl coating layer use was made of the Prandtl-Reuss equations and the equation of state in the form of Mi-Gruneisen. Mechanical behavior of WC-Co coating layer is elastic-brittle. To describe fracture of the coating layers use was made of Hoffman’s criterion accounting for the difference in strength values at tension and compression. Multilayer coating is shown to increase dynamic strength of the steel base. It has been shown that the value of missile penetration into the coated steel decreases in comparison with the case of the uncoated material, and the decreasing nonlinearly depends on the missile velocity.