This study aims to investigate the dynamic response of foam core sandwich panel with composite facesheets, particularly considering the penetration processes under low-velocity impact. An analytical model based on energy approach is developed to predict contact force, contact time, impactor displacement, energy absorption and failure modes. Contribution of the structural components in energy absorption is further analyzed. The predictions are compared with experimental and numerical results and reasonable agreement is achieved. The present work provides an analytical method to study the mechanisms of impact damage and energy absorption for the composite sandwich panels with closed-cell foam core.