The finite element simulation was adopted for severe plastic deformation of reactive synthesis AgMeO composites. The homogenization degree of microstructure was researched by simulation and experiment in same true strain condition for AgSnO2 and AgCuO composites. The results showed that the model of finite element, according to the sinter microstructure of AgMeO composites, can effectively simulate the program of severe plastic deformation. The results of simulation and experiment were consistent. From the result of simulation and experiment, the phenomena of microstructure delaminating was inevitable due to the clustering of reinforce phase in the deformation. The homogenization of microstructure can be obtained through the bigger deformation strength.