A magnetoelectric theoretical model combing piezoelectric and piezomagnetic parts about the longitudinal vibration was proposed for the laminate composite based on equivalent circuit. The model shows that the magnetoelectric voltage is relative to the thickness ratio, total thickness, frequency and loss. A simple laminate magnetoelectric composite was prepared by bonding a nickel plate and a multilayer piezoelectric vibrator together for the experimental research. The multilayer vibrator enjoys high capacitance, large effective area and low thickness, leading to a high magnetic field sensitivity of 1 mOe at the magnetoelectric field coefficient of 2.58 V/cmOe in the simple composite with nickel thickness of 0.2 mm. The model fits the resonance frequency well with the experimental results. Numerical calculation well predicates the magnetoelectric experimental behaviors, presenting a magnetoelectric maximum at about the thickness ratio 0.3 between the nickel plate and multilayer vibrators. This approach provides a method for the magnetoelectric application.