The dynamic Young's modulus of elasticity and the dynamic piezomagnetic coefficient of magnetostrictive material are derived based on the nonlinear constitutive model of magnetostrictive material. Based on the equivalent circuit method, the relation between magnetoelectric effect of the laminated composite and the dynamic Young's modulus of elasticity, and the dynamic piezomagnetic coefficient of magnetostrictive material is established. The influences of bias magnetic field on the resonant frequencies and the resonant magnetoelectric voltage coefficients of the laminated composite are discussed. The theoretical analysis and the experimental results indicate that there is an optimal bias magnetic field at which the resonant magnetoelectric voltage coefficient of the laminated composite reaches its maximum.