New results concerning the process of dynamic fracture of materials (spallation) by laser-induced shock waves are presented. The Nd-glass laser installations SIRIUS and KAMERTON were used for generation of shock waves with pressure up to 1 Mbar in plane Al alloy targets. The wavelengths of laser radiation were 1.06 and 0.53 μm, the target thickness was changed from 180 to 460 μm, and the laser radiation was focused in a spot with a 1-mm diameter on the surface of AMg6M aluminum alloy targets. Experimental results were compared to predictions of a numerical code which employed a real semiempirical wide-range equation of state. Strain rates in experiments were changed from 106 to 5 × 107 s−1. Two regimes of spallation were evidenced: the already known dynamic regime and a new quasi-stationary regime. An ultimate dynamic strength of 80 kbar was measured. Finally, experiments on targets with artificial spall layers were performed showing material hardening due to shock-wave compression.