The magneto-mechanical coupling factor, electromechanical coupling factor, and magnetoelectric （ME） coupling factor of magnetostrictive/piezoelectric laminated composite, which are related to the geometric dimensions and the performance parameter of the magnetostrictive and piezoelectric materials, are analysed and derived. It is also demonstrated that the ME voltage coefficient at low frequency is directly proportional to the ME coupling factor while the ME voltage coefficient at resonance is directly proportional to the product of the ME coupling factor and the effective mechanical quality factor of the composite. In addition, the ME voltage coefficient is related to the intrinsic impedance of the composite. Multiple composites of distinct magnetostrictive materials （Terfenol-D, FeNi-based-alloy） and piezoelectric materials （PZT5-H, PZT8） are further analysed to demonstrate the theoretical analysis. The Terfenol-D/PZT5-H and FeNi-based-alloy/PZT8 laminated composites are fabricated and investigated, and the analysis gives better explanations to the experimental results.