Many analytical models have been already presented for penetration analysis of long rod projectiles. In most of these models, for a specific projectile, target and impact specifications, only unknown parameter (the depth of penetration) is computed. In this paper, the formulation of Alekseevskii-Tate analytical model has been modified to be able to evaluate and design the projectile specifications, for a desired penetration depth. Also by additional relations for kinetic energy and no buckling conditions of projectile, a new algorithm is presented. In this method, by solving the resulted equations, the projectile specifications, including impact velocity, initial length, diameter and mass, is determined for a known penetration depth into the target. Comparison of the results of these formulations with other experimental works and numerical solutions by AUTODYN shows good agreement. Finally, as an applicable example, terminal ballistic design of a rod projectile is done, and projectile specifications are presented.