The invention discloses a rolling compounding method for an aluminum/magnesium/titanium three-layer composite plate. The characteristics of high strength of titanium alloy, low melting point and good vibration reducing performance of magnesium alloy, good plasticity and space adaptation of the aluminum alloy, and the like, are utilized and the excellent characteristics of respective component metals are combined by the aluminum/magnesium/titanium three-layer composite plate provided by the invention, so that the high-speed impact damage resisting property which the component metals do not own is acquired. Through the control on the ratio and interface of the aluminum alloy, the magnesium alloy and titanium alloy, the degree of fragmentation, melting and atomizing of shred cloud after the buffer composite plate is subjected to high-speed impact is changed and adjusted, so that the form of the shred cloud is changed, the degree of impact damage to a backplate is reduced, and the high-speed impact damage resisting property is increased. The aluminum/magnesium/titanium three-layer composite plate is applied to an outer layer buffer plate in an outer layer protecting structure of an aerospace vehicle and can be used for replacing a traditional single aluminum alloy material. The space environmental effect and protecting level of the space vehicle are increased; the design level of the space vehicle are greatly promoted, and the service life of the space vehicle are greatly prolonged.