Based on the coupled SPH-DEM-FEM numerical method, this paper analyzes the dynamic interaction of solid debris flow particle-liquid debris flow slurry-retaining dam in order to explore the dynamic response of retaining dam under the impact of the solid-liquid two-phase debris flow and delves into the process of the debris flow impact on the dam, the impact force of debris flow, and the elastic-plastic time-history characteristics of the dam under different slopes of trapezoidal grooves. The calculation results show that the coupled SPH-DEM-FEM method can vividly simulate the impact behavior of the solid-liquid two-phase debris flow on the dam, reproduce the impact, climbing, and siltation in the process of the debris flow impact; the dynamic time-history curve of the retaining dam is consistent with the law of the literature, and the result of the debris flow impact force obtained is close to that of the empirical formula. Moreover, this paper studies the impact force distribution of the debris flow impact process. The results have a certain reference value for the study of the dynamic response of the retaining dam under the impact of the solid-liquid two-phase debris flow and the engineering design of the debris flow-retaining dam.