The dynamic response behavior and loaded capability were investigated for the delaminated composite plates considering the failure process. A formula of element stiffness and mass matrices for the composite laminates was deduced by using the first-order shear deformation theory combined with the selecting numerical integration scheme. A damping model was constituted on the basis of Rayleigh damping model. A delaminated constrained model and a virtual interface element were also developed for avoiding the overlap and penetration phenomenon between the upper and lower sub-laminates at the delamination region. The failure analysis method for the delaminated plates under dynamic loading was established by Tsai's failure criterion and corresponding 0.44 reduced stiffness role, and the dynamic equation was solved by the Newmark direct integral method. By some numerical examples, the effects of the frequency of dynamic load, delamination location, and reduction of structure stiffness during the failure process upon the dynamic behavior and loaded capability of the delaminated composite laminates were discussed. The method and conclusions would be useful for composite structure designers.