Wf/Cu78Al10Fe6Ni6 composite was fabricated by Cu78Al10Fe6Ni6 alloy and tungsten fiber by means of infiltration casting. Used two-stage light gas gun, Wf/Cu78Al10Fe6Ni6 composite hypervelocity projectile impacted concrete target test with the speed of 2.4 km/s was finished. Microstructure of the residual projectiles after penetration was observed with the aid of transmission electron microscope (TEM). Due to the effect of high temperature and pressure during the process of penetration, there were different microstructures existing in different zones of the residual projectiles, i.e. amorphous microstructures, recrystallization microstructures, twins, stacking faults and dislocations in order from warhead to afterbody. Matrix copper alloy melted and then rapidly solidified due to high temperature produced by projectiles during the process of impact, thus amorphous microstructures were generated. Recrystallization microstructures were generated due to rotational dynamic recrystallization of copper matrix. Twins, stacking faults and high-density dislocations were generated due to serious plastic deformation of projectiles under large dynamic loads in the process of penetration.