This review reports on the current trends in steel-based sandwich structures subjected under high velocity impact. The review begins with a brief introduction on sandwich structures in general. It then delves into detail on some structural configuration parameters that affect sandwich performance. Light has been thrown on the energy absorption mechanisms of sandwich panels. The current global demand on energy necessitates the design of light weight structures. Therefore, the review also elucidates on sandwich design optimization techniques mostly employed by researchers in meeting design constraints and objectives at the minimum weight and cost. Among these optimization techniques are, artificial neural network, fuzzy logic, Taguchi based method, response surface method, particle swarm optimization, genetic algorithm among others. Promising potential of auxetic materials with their negative poison's ratio in resisting impact penetration has been discussed. Comprehensive explanation on failure mechanisms that are encountered during projectile penetration has also been elaborated upon. Parameters such as projectile geometry, core design, core material and thickness of face sheets noted to have enormous influence on penetration resistance have also been addressed.