We studied the dynamic fracture mechanical behavior of rock under different impact rates. The fracture experiment was a three-point bending beam subjected to different impact loads monitored using the reflected caustics method. The mechanical parameters for fracture of the three-point bending beam specimen under impact load are analyzed. The mechanism of crack propagation is discussed. Experimental results show that the dynamic stress intensity factor increases before crack initiation. When the dynamic stress intensity factor reaches its maximum value the crack starts to develop. After crack initiation the dynamic stress intensity factor decreases rapidly and oscillates. As the impact rate increases the cracks initiate earlier, the maximum value of crack growth velocity becomes smaller and the values of dynamic stress intensity factor also vary less during crack propagation. The results provide a theoretical basis for the study of rock dynamic fracture.