The work aims to analyze the shakedown of metal/ceramic functionally graded material coating plate under thermo-mechanical loading and obtain its shakedown area, so as to provide theoretical basis for its safe using in engineering. Based on the previous work, the piecewise exponential function models were given to describe the space graded distribution of material thermal and physical parameters in the graded coating plate. Then, based on the static shakedown theory, the theoretical analysis model for elastic region and shakedown region of graded coating plate was established. Combined with stress distribution of graded coating plate and the balance of residual stress field, shakedown of Al/SiC functionally graded material coating plate was analyzed through the programmed numerical computation. The elastic region boundary and the shakedown region boundary of Al/SiC functionally graded material coating plate were obtained by computational analysis. The shakedown region boundary consisted of two parts, the Shakedown-Reversed Plasticity boundary (as S-RP) and the Shakedown-Incremental Collapse boundary (as S-IC). The extreme thermal load increment ℃ and the mechanical loading limits of unit thickness of the graded coating plate were obtained in the shakedown condition. The thermal and physical properties of coating plate at the upper surface was the weakest, and plastic cyclic deformation was most likely to occur on this surface. According to the results of shakedown analysis, thermal mechanical environment can be pre-selected for the functionally graded coating plate so as to provide the reliable theoretical basis for the safe using. To get better shakedown area and adapt to more serious thermal mechanical environment, shakedown analysis results can provide a well reference for optimization design of graded coating plate preparation.