Carbon fiber reinforced polymer (CFRP) is widely used in the design of aircraft fuselage panel, it is important to study the buckling and failure characteristics of panel to improve the efficiency of structural design. The compression buckling load, failure mode and failure load of composite cap-stiffened panel under compression load are studied by analysis and panel test. The buckling modes and loads of panels under compression are studied by engineering method and finite element method. The loading capacity of the panel under compression load is studied by the column instability method modified by von Karman method. Based on the advanced multi-load panel test rig, the 3m×2m panel test are completed under compression load and pressure load. the analysis methods are verified and modified by test. The results show that the engineering analysis and finite element method need to be modified in buckling analysis, and the results of the modified column instability method are slightly conservative than the test results.