Aluminum Metallic sandwich structures with auxetic core are found to be good energy absorbers for impact. The ballistic performance of honeycomb sandwich panels (HSPs) subjected to in-plane projectile impact has been studied by means of explicit dynamic nonlinear finite element simulations. The HSPs, under investigation, consist of two identical aluminum alloy face-sheets and an aluminum honeycomb core featuring two types of unit cell configurations, namely, regular and re-entrant hexagons. In modeling, the effects of several parameters like impact velocity, length, thickness and angle of the unit cell ribs, on the ballistic limit and energy absorption of the auxetic core panels during perforation are discussed in detail. Impact ballistic tests were also carried out and the results were compared with that of the theoretical finite element model. It has been found that HSPs with re-entrant auxetic honeycomb core has better ballistic resistance than regular ones, due to the negative Poisson's ratio effect of the core. The geometric parameters have shown non-monotonic effects on the panel's ballistic capacities.