The magnetoelectric (ME) characteristics for Terfenol-D/PZT laminate composite dependence on bias magnetic field is investigated. At low frequency, ME response is determined by the piezomagnetic coefficient d_33,m and the elastic compliance of magnetostrictive material, d_33,m and for Terfenol-D are inherently nonlinear and dependent on H_dc, leading to the influence of H_dc on low-frequency ME voltage coefficient. At resonance, the mechanical quality factor Qm dependences on H_dc results in the differences between the low-frequency and resonant ME voltage coefficient with H_dc. In terms of ΔE effect, the resonant frequency shift is derived with respect to the bias magnetic field. Considering the nonlinear effect of magnetostrictive material and Q_m dependence on Hdc, it predicts the low-frequency and resonant ME voltage coefficients as a function of the dc bias magnetic field. A good agreement between the theoretical results and experimental data is obtained and it is found that ME characteristics dependence on H_dc are mainly influenced by the nonlinear effect of magnetostrictive material.