A magnetoelectric (ME) laminate composite was fabricated by sandwiching one 0.7Pb(Mg1/3Nb2/3)O3–0.3PbTiO3 (PMN-PT) piezoelectric single crystal layer between two NdFeB magnet layers along the thickness direction. The high ME effect was obtained by the product of the magnetic attractive-repellent effect in the magnet layers and the piezoelectric effect in the piezoelectric layer. The magnetoelectric voltage coefficient of the composite was measured to be ∼12.5 mV/cm Oe with a flat frequency response in the range of 0.1–20 kHz. The induced ME voltage showed an excellent linear relationship to the applied ac magnetic field with field amplitude varying from 10-3 to 10 Oe. Other advantages included low heat generation, no bias magnetic field required, and high scale-down capability. These made the composite to be a promising ME material for realizing high-performance, small-size, and low-cost magnetic sensors.