To better understand the penetration mechanism of the elliptical cross-section projectile (ECSP) into semiinfinite concrete target, penetration experiments using three types of ECSPs with different shape ratios (1, 1.25 and 1.61) and with striking velocities ranged from 550 m/s to 1050 m/s were conducted. Penetration depths, penetration trajectory and mass erosion rates of the projectile were obtained after the experiments. The experiment results show that the penetration performance and ballistic stability of the ECSP are equivalent to those of the circular cross-section projectile (CCSP). Based on the theory of complex variable function and conformal transformation, a semi-analytical model which can calculate the cavity boundary stress distribution of elliptical section cavity controlled by the displacement boundary condition was established and the model was validated by comparing the model degenerate solution with Kirsch problem results. Theoretical calculation results show that the radial stress of elliptical section cavity increases progressively from the minor axis to the major axis. In addition, a formula combining with the semi-analytical theoretical model and the local interaction theory was developed. The predicted penetration depths were compared with 30 groups of experiment data with different projectile parameters and striking velocities and coincide quite well with the corresponding experimental data. Finally, the influence of shape ratio and caliberradius-head (CRH) on the penetration performance of projectile and the application prospect of ECSPs on hypersonic weapon platform were studied.