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Abstract The objective of this study is to investigate the dynamic mechanical properties of coal and rock under deep water conditions. The research employs an enhanced Split Hopkinson Pressure Bar (SHPB) testing system. Five sets of dynamic impact experiments were conducted on coal samples under varying loading conditions to analyse the changes in dynamic strength, energy dissipation, fractal dimension and other characteristics of coal samples under different water content states were analyzed. The experimental results demonstrate that: (1) Under specific strain rate conditions, the dynamic strength of saturated coal samples is lower than that of natural coal samples. As the strain rate gradually increases, the bonding force generated by free water and the Stefan effect jointly act, and the peak strength of saturated coal samples under high strain rate loading conditions is higher than that of natural coal samples. (2) Under certain strain rate conditions, the absorption energy of saturated coal samples is approximately 10% to30% lower than that of natural coal samples, and deformation hysteresis phenomenon occurs in natural coal samples, thereby improving the dynamic strength of natural coal samples relative to saturated coal samples; (3) The fractal dimension of saturated coal samples with a specific strain rate under three-dimensional dynamic static combination loading is higher than that of natural coal samples, and the percentage of small particle coal samples with debris is higher than that of natural coal samples; Finally, based on the HJC model, some coal samples were selected to simulate the coal rock failure characteristics during the triaxial loading process using ANSYS/LS-DYNA, and their stress–strain curves and failure morphology diagrams were obtained. The discrepancy between the numerical simulation and the experimental results was less than 10%, thereby further elucidating and corroborating the coal failure process and dynamic mechanical characteristics.