This paper presents a comparative study of Peridynamics and FEA for large deformation high-velocity impact simulations. During high-velocity impacts, traditional grid-based computational codes suffer from mesh distortion due to large deformations and face difficulties in the simulations of cracks and fractures. Consequently, several mesh-free techniques have evolved in the last few decades. Peridynamics, a particle-based method introduced in the early 2000s, has attracted much attention among researchers. An in-house Peridynamics code is developed in Fortran 90 and parallelized using OpenMP. A large deformation hypoelastic–plastic formulation is incorporated. In this paper, through a few classic impact simulations, the accuracy of the in-house Peridynamics code is verified with FE simulations and reported experimental results. It is also demonstrated that Peridynamics does not exhibit the mesh sensitivity that classical methods do when simulating shear bands.