A general layerwise theory for dynamic buckling and postbuckling of imperfect multilayered composite circular cylindrical shells is introduced. In contrast to the conventional displacement-based layerwise theories that are more suitable for semianalytical solutions and kinematic boundary conditions, the present method includes the displacement and stress components at the same time. Thus, the method provides an efficient formulation where both kinematic and force boundary conditions can be exactly satisfied, To use the exact expressions of strain and stress components, the full Green's strain tensor for large deflections of circular cylinders is employed. Then almost no simplification is made in the development of the governing equations. The applied loads can he composed of various mechanical loads (axial compression, external pressure, external fluid pressure, and torsion or a combination of them). Accuracy and convergence of the present theory, in comparison with the three-dimensional elasticity approaches proposed so far, are higher and more effective. Finally, a few examples of various references that have used different theories are reexamined for comparison purpose.