The traditional supercavitation projectile depends on its kinematics to damage targets. However, the bullet penetration ability is greatly restrained by the range. To improve the damage performance of underwater projectiles, the shaped charge and supercavitation technology are combined in this paper, which called shaped charge supercavitation projectile. The projectile is designed and analyzed through ANSYS/LS-DYNA software in the preliminary stage. The simulation results turn out that the structures have many advantages with reasonable design. The paper divides the design into three steps: the first step is to design the shaped charge according to the requirements or shaped charge structure designed; the second step is to determine the optimum stand-off that is obtained by numerical analysis. The stand-off is set as the length of the projectile head; the third step is to calculate the cavitator diameter by the Logvinovich equation. These results will provide a new idea for the design of underwater weapons.