In order to allow more reactive material to enter the penetration hole when the initiation delay time of reactive material arrives, a double-layered liner structure with inner and outer liners of unequal height is designed. The outer liner is polytetrafluoroethylene/aluminum (PTFE/AL) reactive material, and the inner liner is metal material. The AUTODYN software were used to study the effects of height ratio α of the inner and outer liners and inner liner material on the reactive composite jet forming and penetrating C35 concrete target. The results show that when α varies, the composite liner forms a reactive composite jet composed of different materials at the head. When α is 4/5, the composite jet can both cause a large penetration depth on the target plate and allow more reactive material to enter the penetration hole. When the material of inner liner is titanium, almost all the reactive material follows the metal precursor penetrator into the penetration hole, which can significantly exert the combined damage effect of penetration and demolition.