Dynamic stability analysis of sandwich plate with the magnetorheological (MR) elastomer core layer is studied in this paper. The rectangular plate is covered an MR elastomer core layer and constraining layer to improve the stability characteristics of the sandwich system. In this study, the effects of the natural frequencies, static buckling loads and loss factors on the dynamic stability behavior of the sandwich plate are presented. The modal damper and the natural frequencies for the sandwich plate are calculated with various magnetic fields. When magnetic field is applied, the damping of the system is more effective and controllable. Besides, the finite element method and the harmonic balance method are used to calculate the instability regions of the sandwich system.