Benefiting from the potential advantages of low noise, high efficiency and little disturbance, bionic propulsion has attracted wide attentions. Compared with the rigid structure, the performance of the elastic propulsion structure such as flexible caudal fin and passive compliant joint has been improved, yet the effective frequency range is limited due to the single mechanism. The optimal propulsion can only be produced in a certain frequency range. In this article, a biological passive peduncle joint integrated with the composite mechanism of elasticity and shear damping is proposed, solving the problem of the narrow frequency range of effective propulsive capacity. Through the optimal regulation of the elastic function at a certain frequency range and characterization of the damping function which increases with frequency, the response features of the passive joint are optimized over a wide range of frequencies, thereby improving the propulsive performance of the composite-mechanism bioinspired underwater vehicle (CMBUV). A dynamic model is built and the deformation analysis of the compliant caudal fin is carried out. The propulsive efficiency is characterized, and the results indicate that the compliant caudal fin modulates the power transmission for enhancing thrust production. Extensive simulations and experiments reveal that the CMBUV achieves both high swimming speed with 4.42 body length per second and low cost of transport with 90.33 J kg <inline-formula xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"><tex-math notation="LaTeX">$^{-1}$</tex-math></inline-formula> m <inline-formula xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"><tex-math notation="LaTeX">$^{-1}$</tex-math></inline-formula> . Bioinspired propulsion from this study takes advantage of undulating propulsion of natural fish, offering valuable insights into performing marine tasks in ocean environments.