In order to enhance the damage ability of anti light armored target ammunition, a new type of arc cone combination liner which could form explosively formed penetrator (EFP) with PELE effect was proposed. The numerical simulation of EFP forming and penetration was carried out by using the finite element software LS-DYNA, and the influence of the structural parameters of the liner on EFP molding and the penetration effect of EFP on the target were analyzed. The result shows that the new type of liner can form the wrapped EFP with low density material. When the thickness of the outer wall is 0.35~0.85 mm, the wall thickness of the filter is 0.2~1.6 mm, and the inner wall thickness is 0. 45~0.75 mm, the formed EFP have relatively good performance. The optimized liner can form an EFP with distinct PELE effect, which is helpful to enhance the damage effectiveness of anti light armored target ammunition. Keywords: EFP; arc-cone combination hood; wall thickness; PELE; penetration; numerical simulation