A single-core water-in-dodecane compound drop was formed by a coaxial tube nozzle and allowed to free fall into a high-temperature environment. The compound drop vaporization rate, ignition delay time, and occurrence of micro-explosion were observed to be affected by three experiment parameters: drop diameter (d(i)), water content (beta), and environmental oxygen concentration (ohm(O2)). The ignition delay time increased with increasing water content (beta) and the vaporization rate increased with increasing environmental oxygen concentration. The compound drops micro-exploded during the burning process in a random way. The number of micro-explosions was majorly influenced by drop diameter d(i), followed by environmental oxygen concentration ohm(O2). Water content beta had a weaker effect on micro-explosion.