AbstractAs a type of high‐energy explosive, aluminized explosives are extensively used in underwater weapons and ammunition. This study aims to investigate the energy release rate on the damage of underwater targets caused by aluminized explosives (RDX/Al). The ship was selected as a target, and numerical simulations were conducted using AUTODYN software to study the energy release rate corresponding to different particle sizes of aluminum powder (25 nm −300 μm) in the underwater explosion process of RDX/Al, as well as its destructive effect on targets in the water. The research quantitatively evaluates the whole ship′s destruction results, including longitudinal bending deformations and crevasse. In addition, typical cabins were selected in this study to assess the local damage effects by analyzing stress, shock wave pressure, displacement, and acceleration shock response. Based on the damage results, it was revealed that RDX/Al with aluminum powder particle sizes ranging from 54 nm to 145 nm exhibited the most optimal damaging effects on ships after underwater explosions. These findings provide a basis for improving the destructive power of aluminized explosives against underwater targets, simultaneously, they can be utilized by ship designers to guide research and development of improved protective measures, aiming to reduce the vulnerability of ships to explosive attacks.