This study investigates the chattering stability of the composite boring bar with a constrained damping layer during the deep-hole boring process in depth. Based on the Euler-Bernoulli beam theory, the regenerative chattering linear kinetic model of the composite boring bar with a constrained damping layer was established, and the computational formulas of the rotating speed of the spindle and the corresponding limit cutting depth were derived. By analyzing the chattering stability, the cutting stability lobe curves of the composite boring bar with a constrained damping layer were plotted so as to reveal the effects of the materials of both base layer and constrained layer, the ply angle, the damping composite structure (free or constrained damping structure) and the thickness of various layers on the chattering stability of the boring bar. Through the analysis of dynamic stiffness, the chatter stability analysis theory of a composite boring bar with a constrained damping layer is verified.