Aiming at the interception constraint posed by defensive aircrafts against hypersonic morphing vehicles (HMVs) during the terminal guidance phase, this paper designed a guidance law with the finite-time convergence theory and control allocation methods based on the event-triggered theory, achieving evasion of the defensive aircraft and targeting objectives for a morphing vehicle in the terminal guidance phase. Firstly, this paper established the aircraft motion model; the relative motion relationships between HMV, defensive aircraft, and target; and the control equations for the guidance system. Secondly, a guidance law with finite-time convergence was designed, establishing a controller with the angle between the aircraft–target–defense aircraft triplet as the state variable and lift as the control variable. By ensuring the angle was non-zero, the aircraft maintained a certain relative distance from the defense aircraft, achieving evasion of interception. The delay characteristic of the aircraft’s flight controller was considered, analyzing its delay stability and applying control compensation. Thirdly, a multi-model switching control allocation method based on an event-triggered mechanism was designed. Optimal attack and bank angles were determined based on acceleration control variables, considering different sweep angles. Finally, simulations were conducted to validate the effectiveness and robustness of the designed guidance laws.