To meet the requirements of miniaturized multifunctional ammunition with force-thermal-electromagnetic, a new concept is adopted to develop a small-caliber ammunition, which uses a magneto-electric self-powered ignition system with high overload generated by penetrating the target to ignite the active material inside the ammunition. In this paper, the force and motion of the magnet during projectile penetrating into the target under different impact loads are analyzed by joint simulation of ABAQUS/Explicit and Maxwell softwares, and the ignition reliability and relative motion velocity of magnet and coil are evaluated by the ignition system. The results show that the self-powdered ignition system can be ignited reliably when the geometric size of the magnet is Φ × L = 8 × 12 mm2, the turn number of the coil is 350 and the relative motion speed of the magnet and the coil is higher than 40 m/s. The ignition threshold energy of the military electric ignition head used in experiment is calculated between 0.29∼0.35 mJ. The maximum and minimum ignition delay times are 139 μs and 485 μs in experiments, respectively, and the corresponding relationship is determined by adjusting the relative position of the coil, magnet and magnet's geometric size, which can provide a controllable ignition delay time for penetrating targets with different natural characteristics.