Compared with traditional lightweight corrugation and honeycomb cores, the novel cellular structure exhibiting a negative Poisson's ratio possesses distinctive mechanical deformation features, making it suitable for modeling lightweight sandwich structures. Therefore, the concept of combining the auxetic honeycomb core with folded corrugations is proposed to construct a new type of corrugation star-shaped honeycomb (SSH) hybrid core for studying the dynamic behavior of sandwich panels subjected to low-velocity impact. Integrate Hertz elasticity theory and first-order shear deformation theory (FSDT) to develop an equivalent analytical model, and derive the equations of motion through Hamilton principle. To model contact force interactions during dynamic processes, a spring-mass model is utilized. Analytical solutions are derived for predicting transverse displacement with Duhamel's principle and Navier's method. Numerical simulations are conducted using the Abaqus commercial software, and the validity of the results is confirmed by comparing them with findings in the existing literature. Based on this, effective strategies for enhancing the sandwich panel's resistance to low-velocity impacts are proposed by examining the influence of different side length ratios, thickness ratios, and cell concave angles. In comparison to the corrugation re-entrant hexagonal honeycomb hybrid core sandwich panel structure, the corrugation SSH hybrid core sandwich panel structure reduces transverse displacement by 33.6 % at the same impact velocity.