<p>The dynamic characteristics of sandstone are significantly influenced by initial in situ stress, dynamic disturbances, and bedding angles. Based on the improved SHPB, dynamic and static combined loading tests as well as microscopic tests were conducted on sandstone at different bedding angles. Under these conditions, the stress–strain curve, strength, deformation parameters, crack propagation process, failure mode, energy evolution law, and microscopic fracture characteristics of sandstone are obtained. The results show that with the increase of prestress, the strength and the dynamic and static combined strength of sandstone first increase and then decrease. The degree of fracture of 45° and 60° laminated sandstones is significantly higher than that of other laminated sandstones. When the prestress increases, the crack propagation rate of sandstone first decreases and then increases. In addition, with the increase of prestress, the number of sandstone cracks increases significantly. The fractures of sandstone at the 0° bedding angle mainly expand within the bedding, while those of other sandstone extend along the bedding plane. With the increase of the bedding angle, the energy utilization of sandstone first rises and then decreases, and the prestress is positively correlated with the energy utilization rate of sandstone. Microscopic tests show that an increase in prestress leads to an increase in transgranular fractures of sandstone. Based on the previous test results, the corresponding constitutive model was constructed and verified. On this basis, the rockburst criterion considering the action of bedding angle, static and dynamic loads was proposed.</p>