In this study, three series of Cu/CuCrZr composite plates were successfully achieved by explosive welding (EXW) method. The effect of the explosive rate and buffer plate on the microstructure and mechanical properties of bonding interface were investigated. In the bonding interface, no intermetallic or transition was formed. It was obvious that installing the buffer plate protected the composite plate from excessive ablation. With the increase of rate of explosive, the amplitude and wavelength of wave were increased. Some peninsular molten pockets were observed at the wavy interface adjacent to the wave crest of the three welds, the dimensions of which decreased with the decrease of explosive rate. Microhardness of bonding interface and outer face of plates were increased because of deformation that was originating from impact or reflection of the explosion pressure from the anvil. Microhardness and shear strength values were increased with the increase of explosive rate, while the values of clad plates with the buffer plate installed were more stable.