The impact value, the interfacial shear strength, the tensile strength and the fracture strain of Nb/MoSi$_2$laminate composites, which were associated with the interfacial reaction layer, have been investigated. Three types of Nb/MoSi$_2$ laminate composites alternating sintered MoSi$_2$ layers and Nb foils were fabricated as the parameter of hot press temperature. The thickness of interfacial reaction layer of Nb/MoSi$_2$ laminate composites increased with increasing the fabrication temperature. The growth of interfacial reaction layer increased the interfacial shear strength and led to the decrease of impact value in Nb/MoSi$_2$ laminate composites. It was also found that in order to maximize the fracture energy of Nb/MoSi$_2$ laminate composites, interfacial shear strength and the thickness of interfacial reaction layer must be secured appropriately.