In view of solving how to dynamically allocate multiwave firepower for aircraft under limitation condition of fire one-kick releasing, this paper establishes a dynamic fire distribution multi-objective optimization model (DWTA) based on the linking up with the target value, target threat, and fire distribution. A number of sub-firepower distribution models (SWTA) are included under the DWTA model, and the SWTA of the next wave is updated by the hitting effect of the previous wave SWTA as an input. The multi-object decomposition evolutionary algorithm (MOEA/D) of the hybrid conjugate gradient method is improved. Gaussian disturbance is added to generate the initial search point set, and the conjugate gradient method is used to search. The algorithm is used to solve the model. The simulation experiments show that the convergence speed of the algorithm is improved under condition of retaining the advantages of the MOEA/D algorithm. Compared with the traditional MOEA/D algorithm. tine is 22 s by using the traditional MOEA/D algorithm and only 14 s by using the modified MOEA/D algorithm, completing the dynamic allocation of multi-wave firepower.