An investigation was carried out to characterize the microstructure and bonding properties of the zirconium-carbon steel explosive clad. The microstructure and the composition of the clad were characterized using optical microscopy and scanning electron microscopy. Bonding properties were inspected by using bending and shearing tests. The examination results indicate that the R60702 and Cr70 plates were joined successfully without visible defects. The interface wave is symmetrical. There is no element diffusion across the interface of the clad plate. There are melt blocks at the interface. Bending and shearing test results indicate that the bonding properties of the clad meet the requirements of the ASTM B898 specification. And after shell rolling, no delamination appeared at the interface. Thus, it indicates that the clad plates have good bonding quality and meet the processing requirement.