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A magnetoelectric laminate composite was proposed by combing a piezoelectric transformer and a Terfenol-D plate. Converse magnetoelectric effect was researched by using an induction method with frequency, bias magnetic field, ac voltage, and Terfenol-D thickness. A giant converse magnetoelectric coefficient of 35.7 G/V was obtained at half-wavelength vibration mode in the composite with the Terfenol-D thickness of 0.7 mm, which is a great improvement in comparison with the previous reports. The magnetoelectric distribution exhibited that the converse magnetoelectric effect was dominated by the stress in the composite.