In order to obtain better guidance performance, a dual-control adaptive sliding mode guidance law of modified proportional guidance and flight velocity control is proposed by using the added flight velocity control freedom of engine flow adjustment missile.The modified proportional guidance is designed with zero overload at the end of the trajectory.Based on the analysis of its instantaneous miss distance, the angle of sight and flight velocity control quantity are selected as sliding surfaces.Furthermore, the adaptive sliding mode control method is adopted to derive the velocity control guidance law to reduce the miss distance.The simulation results show that, compared with proportional guidance and modified proportional guidance with speed retaining, the designed adaptive sliding mode guidance law has smaller miss distance, smoother trajectory and smaller overload requirement, thus realizing the active control of missile flight velocity.