To study the effects that the perennial freeze–thaw environment exerts on the dynamic mechanical properties of marble, which characterizes the Qinghai-Tibet Plateau, impact tests were conducted, and saturated marble was utilized; thus, we analyzed the effect of different loading rates on its dynamic compressive strength, fragmentation pattern, and energy-absorbing density. The results indicate the following: (1) When 42.02s-1 ≤ε˙≤ 49.20s-1, the degree of fragmentation and the fractal dimension of saturated state marble is greater than that of the dry state marble; when ε˙<42.02s-1 or ε˙>49.20s-1, the dry state marble exhibits greater fragmentation than the saturated marble; (2) When the saturated state marble is subjected to a specific fractal dimension, the energy-absorbing density of the marble that characterizes the saturated state is great compared with the dry state, and when the fractal dimension increases, the energy-absorbing densities that characterize the two states gradually converge. (3) The effect of water on the mechanical properties of marble has an obvious rate dependence, showing a weakening effect at low strain rates and a strengthening effect at high strain rates. In regard to the analysis pertaining to the dynamic fracture mechanism of marble under the influence of the freeze-thaw environment that characterizes the plateau, the aforementioned experimental results exhibit considerable significance.