The shock trains in ramjet/scramjet are generally oscillatory. Thus，study of aeroelastic characteristics of the panel subjected to the oscillating shock has important guidance to the structural safety. Based on Von-Kármán large deflection plate theory and local first-order piston theory，the nonlinear dynamic equations of the panel subjected to an oscillating oblique shock are established by using the Galerkin discrete method. The fourth-order Runge-Kutta numerical integration method is adopted to solve the nonlinear dynamic equations. Considering different system parameters（i.e. shock strength，oscillation amplitude and oscillation frequency of the shock）and taking dynamic pressure as bifurcation parameter，the bifurcation characteristics and chaos behaviors of the panel subjected to an oscillating oblique shock are studied. The results show that compared with the case in which the shock location is fixed，the dynamic behaviors of the system are richer and the bifurcation characteristics are more complex when the panel is subjected to an oscillating shock. The LCO amplitude is observed to increase with the shock strength and oscillation amplitude of the shock. Under the action of the oscillating shock，chaotic motion is very easily excited and the route to the chaotic motion is via the quasi-periodic motion. The increase of the shock strength will not change the route to the chaotic motion. However，when the oscillation amplitude of the shock is significantly increased，the route to the chaotic motion is no longer via the quasi-periodic motion but a more complex process.