This paper investigates the cooperative optimal guidance of hypersonic glide vehicles (HGVs) in the terminal phase with consideration on time-varying velocity, aerodynamic forces, and practical constraints. The cooperative optimal guidance problem is formulated as an optimal control problem with time as the independent variable, which brings great convenience in controlling the impact time. We propose proper convexification techniques to convexify this problem and apply successive convex optimization to get the solution of the original problem. To achieve cooperative guidance of multiple HGVs with time coordination constraint, a deep learning–based approach is proposed to find an optimal common impact time assigned to all the HGVs. The training samples required by deep learning are obtained by convex optimization. An algorithm is then presented to summarize the cooperative optimal guidance strategy. In each guidance loop, the common impact time is updated according to mission conditions, and the guidance commands are generated by the successive solution procedure in real time. Numerical examples will be provided to demonstrate that the proposed cooperative optimal guidance algorithm is effective and efficient, and it can achieve better performance than a popular cooperative proportional navigation guidance law.