Dynamic wellbore stimulation technologies, such as high-energy gas fracturing, electrical pulse fracturing, hydraulic pulsation fracturing, are generally designed to multi-fracture the near-wellbore region through generating high energy pulse with intermediate or high loading rate. During the stimulating process, the dynamic strength and failure mode of saturated rocks around the wellbore can be largely affected by the transient intrusion of high energy fluid. Accordingly, an experimental method was developed to provide a method to apply the tailored pulse loading in the central borehole of the cylindrical rock samples. Three groups (Saturated + Center hole exposed (S-CHE), Saturated + Center hole wall isolated (S-CHI), Dry + Center hole wall isolated (D-CHI)) tests were carried out. The borehole fluid pressure-time curves and the failure modes of rock samples were tracked, analyzed and compared for all of the experiments. Experimental results demonstrate that: The relationship between rock dynamic strength and loading rate is monotonic direct proportionality. The dynamic strength of saturated rock shows a much stronger strain rate dependence than that of the dry rock. At the same loading rate, fluid penetration can largely weaken the dynamic strength of rock samples. The stress pulse generates a complex crushed zone around the wellbore, while the fluid penetration tends to produce radial multi-fractures. These phenomenons were explained using the micromechanics-based macroscopic damage theory, which is capable of obtaining the relationship between the fluid intrusion and the fracture deformation in the rock dynamic failure process.