Roll bonding of the three-layer clad plate, including carbon steel (20 mm thick), 304 austenitic stainless steel (4 mm thick) and 410 martensitic stainless steel (4 mm thick) was carried out by vacuum hot rolling method. The research results show that firm metallurgical bond of the interfaces is achieved, and the plate is bonded well without cracking and oxidation layer under the high temperature and high pressure. A decarburization layer of 60-80 μm appeares near the carbon steel side of the composite interface of carbon steel/stainless steel. A white and bright band layer appeares on the interface due to the interfacial diffusion of Cr and C, which is the hard and brittle phase of Cr carbide, and the 'uphill diffusion' of C element appears. A small number of fine and dispersed Si-Mn oxide particles are found near the composite interface of the two stainless steels, and the thickness of the diffusion layer is about 3 μm. The average tensile strength of the clad plate is 568.32 MPa, and the tensile fracture stratification is obvious. The dimple of carbon steel side is large and deep with good plasticity, the composite layer is Cr carbide with brittle fracture. The 410 stainless steel shows quasi-cleavage fracture, while the 304 stainless steel shows cut-off fracture morphology for it is located at the edge of the plate. In addition, due to the difference in plate deformation coordination, the crack initiation occurs at the composite layer and extends to the 410 stainless steel side firstly.