Combined with the actual distribution characteristics of tungsten fibers and metallic glass matrix, a three-dimensional (3D) mesoscale finite element (FE) geometric model of a long rod of tungsten fiber-reinforced metallic glass composite was established, and the coupled thermo-mechanical constitutive model was used to describe the high strength and high shear sensitivity of metallic glass matrix. FE simulations on the oblique penetration/perforation of composite and tungsten alloy long rods into steel targets were carried out combined with related oblique penetrating tests, and comparative analyses on the deformation and failure characteristics of projectiles and targets were conducted. Furthermore, the influences of oblique angle and impact velocity on the ‘self-sharpening’ behavior of composite long rods and the corresponding ballistic performance were investigated in detail. Related analysis shows that in the oblique impact condition, due to the asymmetrical characteristics of target resistance on the rod, the rod nose gradually sharpens into an asymmetrical pointed configuration, and certain deflection occurs in the trajectory. Consequently, the ‘self-sharpening’ behavior in the composite long rod is weakened to a certain extent, and thus a decay occurs in its penetrating property. Besides, the impact velocity also contributes to the ‘self-sharpening’ characteristics and the corresponding ballistic behavior in the oblique impact condition, and the decay of penetrating capability derived from the oblique angle is more remarkable at lower impact velocities. When the oblique angle increases to 50°, the composite long rod is hard to effectively penetrate the target at an impact velocity lower than 900 m/s, and ricochet becomes easy when it impacts under a higher oblique angle. The results are of good significance in predicting the penetrating ability of tungsten fiber-reinforced metallic glass matrix composite long rods and optimizing its impact attitude.