Based on the concept of hydraulic dissipation of kinetic energy, a novel shock wave regulator, which is composed of a damper and an externally triggered valve, is presented with thorough analyses on its working mechanism. By establishing motion equations of each component of the regulator and simulating the dynamic behavior of the whole system, the shock wave regulator is demonstrated numerically to be able to change the width and amplitude of shock pulses. Prompt and easy adjustment can be achieved by changing the equivalent flow area of damping orifices and consequently the closing velocity of the flow area of a valve, which makes it applicable to different impact testing.