The design of a hypersonic vehicle controller has been an active research field in the last decade, especially when the vehicle is studied as a time-varying system. A time-varying compound control method is proposed for a hypersonic vehicle controlled by the direct lateral force and the aerodynamic force. The compound control method consists of a time-varying linear quadratic regulator (LQR) control law for the aerodynamic rudder and a sliding mode control law for the lateral thrusters. When the air rudder cannot continuously produce control force and torque, the direct lateral force is added to the system. To solve the problem that LQR cannot directly obtain the analytical solution of the time-varying system, a novel approach to approximate analytical solutions using Jacobi polynomials is proposed in this paper. Finally, the stability of the time-varying compound control system is proven by the Lyapunov–Krasovskii functional (LKF). The simulation results show that the proposed compound control method is effective and can improve the fast response ability of the system.