A numerical technique of high-order piecewise parabolic method in combination of HLLD ("D" denotes Discontinuities) Riemann solver is developed for the numerical simulation of elastic-plastic flow. The introduction of the plastic effect is realized by decomposing the total deformation gradient tensor as the product of elastic and plastic deformation gradient tensors and adding plastic source term to the conservation law model equation with the variable of the elastic deformation gradient tensor. For the solution of the resulting inhomogeneous equation system, a temporal splitting strategy is adopted and a semi-implicit scheme is performed to solve the ODES in the plastic step, which is conducted to account for the contributions from plastic source terms. As seen from the results of test cases involving large deformation and high strain rate, the computational model used can reflect the characteristics of constitutive relation of material under strong impact action and our numerical method can realize the exact simulation of the elastic-plastic behavior of solid material, especially the accurate capture of the elastic-plastic waves. Further, it could also deal with high-speed impact problems with multi-material components, catching material interfaces correctly and keeping the interfaces sharp, when combined with interface tracking technique such as the level-set algorithm.