To address the problem of low accuracy and efficiency in trajectory planning algorithms for interceptors facing multiple constraints during the midcourse guidance phase, an improved trajectory convex programming method based on the lateral distance domain is proposed. This algorithm can achieve fast trajectory planning, reduce the approximation error of the planned trajectory, and improve the accuracy of trajectory guidance. First, the concept of lateral distance domain is proposed, and the motion model of the midcourse guidance segment in the interceptor is converted from the time domain to the lateral distance domain. Second, the motion model and multiple constraints are convexly and discretely transformed, and the discrete trajectory convex model is established in the lateral distance domain. Third, the deep reinforcement learning algorithm is used to learn and train the initial solution of trajectory convex programming, and a high-quality initial solution trajectory is obtained. Finally, a dynamic adjustment method based on the distribution of approximate solution errors is designed to achieve efficient dynamic adjustment of grid points in iterative solving. The simulation experiments show that the improved trajectory convex programming algorithm proposed in this paper not only improves the accuracy and efficiency of the algorithm but also has good optimization performance.