The invention discloses a high-wave impedance self-restraint explosive welding method and device for a dissimilar metal composite pipe. The device is sequentially and concentrically provided with selectable outer constraint explosive, an outer mold, a selectable outer constraint layer, an outer pipe, an inter-pipe gap, an inner pipe, a selectable protection pipe, a pressure transmitting medium, a charging pipe, explosive welding explosive and a detonator from outside to inside. In the inter-pipe gap between the outer pipe and the inner pipe, the supporting and sealing structures are fixed at the two ends of the inter-pipe gap, so that the gap is kept uniform and sealed; wherein the external base body structure comprises an outer mold, an outer restraint layer and an outer pipe; the internal coating structure comprises an inner tube and a protective tube; the explosive welding cartridge comprises a charging tube and explosive welding explosive. By means of the method and device, distortion of the explosive welding pipe can be restrained, the straightness of the composite pipe can be improved, collision damage between an outer pipe and an outer mold is reduced, the adjustable and controllable range of welding parameters is widened, the risk of crack generation is greatly reduced, and the gap distance between all structures is accurately limited.