A radar/infrared compatible stealth structure based on metamaterial was successfully designed in this paper， and the structure consists of an infrared stealth layer （IRSL）， two microwave absorption layers （MAL） and a microwave reflection layer （MRL） based on indium tin oxide （ITO） film. The IRSL is composed of frequency selective surface of ring hollow structure. The MALs are composed of square ring structures with different period and square resistance. The MRL is composed of continuous conductive film. Each layer is separated by a polymethacrylimide （PMI） materials with different thickness. Experimental results show that the structure can achieve more than 90% microwave absorption in the range of 2～18.6 GHz， and its infrared emissivity is lower than 0.3.