Interface debonding between particle and matrix in composite propellant influences its macroscopic mechanical properties greatly. For this, the laws of interface cohesive damage and failure were analyzed. Then, its microscopic computational model was established. The interface mechanical response was modeled by the bilinear cohesive zone model. The effects of interface properties and particle sizes on the macroscopic mechanical behavior were investigated. Numerical simulation of debonding damage evolution of composite propellant under finite deformation was carried out. The debonding damage nucleation, propagation mechanism and non-uniform distribution of microscopic stress-strain fields were discussed. The results show that the finite element simulation method based on microstructure model can effectively predict the trend of macroscopic mechanical behavior and particle/matrix debonding evolution process. It can be used for damage simulation and failure assessment of composite propellants. Interface debonding between particle and matrix in composite propellant influences its macroscopic mechanical properties greatly. For this, the laws of interface cohesive damage and failure were analyzed. Then, its microscopic computational model was established. The interface mechanical response was modeled by the bilinear cohesive zone model. The effects of interface properties and particle sizes on the macroscopic mechanical behavior were investigated. Numerical simulation of debonding damage evolution of composite propellant under finite deformation was carried out. The debonding damage nucleation, propagation mechanism and non-uniform distribution of microscopic stress- The results show that the finite element simulation method based on microstructure model can effectively predict the trend of macroscopic mechanical behavior and particle / matrix debonding evolution process. It can be used for damage simulation and failure assessment of composite propell ants.