To investigate the damage evolution and energy derivative flow characteristics of frozen cement soil under impact loading, Split Hopkinson Pressure Bar (SHPB) impact tests were conducted on frozen cement soil under different impact pressures and freezing temperatures. Numerical simulations were also performed using the ABAQUS finite element software. The dynamic stress-strain behavior, energy absorption and dissipation, and dynamic elastic modulus curves of frozen cement soil were analyzed, and the damage and failure mechanisms of frozen cement soil were interpreted. The results show that: High impact pressure and low freezing temperature are the main factors that increase the degree of fragmentation of frozen cement soil specimens under loading. Under impact loading, the internal energy derivative flow of frozen cement soil can be divided into three stages: energy absorption, expansion, and dissipation, with significant effects of impact pressure and freezing temperature during the absorption and expansion stages. The research findings can provide a theoretical basis for the reinforcement of frozen cemented soil under dynamic loading.