This paper addresses the problem of a low-speed missile intercepting a hypersonic vehicle in the longitudinal plane. Firstly, based on the concept of the zero of the angular rate of the line-of-sight (LOS) angle, the guidance system is established by defining the LOS angular rate as the state variable. Secondly, in view of the difficulty of precisely measuring the external disturbance caused by the hypersonic vehicle’s maneuver in the guidance system, a non-homogeneous disturbance observer is designed to precisely estimate the disturbance information. Then, by introducing the fractional-order operator into the sliding surface, a fractional-order fast power reaching (FOFPR) guidance law is proposed based on the fast power reaching law. Simulation examples are carried out in two different maneuver modes of the hypersonic vehicle: the bang-bang maneuver mode and sinusoidal maneuver mode. Besides, comparative experiments are conducted with the proportional navigation (PN) and the integer-order fast power reaching (IOFPR) guidance laws. Finally, the simulation results demonstrate the superiority of the effectiveness of the proposed guidance law.