With the development of complex terminal effects, the semi penetration effect of annular groove projectiles on multi-layer targets has obtained increasing attention. In this paper, based on the theory of cavity expansion, a comparative analysis model is established for the oblique penetration of annular groove projectile and ogive-nosed projectile into multi-layer targets. The FEM analysis software LS-DYNA is used to simulate and calculate the time history curves of projectile velocity, axis deviation angle, and axis angular velocity. In addition, the micro rheological behavior of the target material in the groove during oblique penetration was studied. The results show that the radial offset of the annular groove projectile is less than that of the pointed projectile, and the larger the landing angle, the greater the projectile offset. The penetration resistance of target decreases with the increase in layers of target, while the DOP and lateral deviation of the projectile increase. This analysis model can provide analytical basis for related applications.