To intercept a higher-speed target in the terminal guidance phase, this paper proposes a generalized relative biased proportional navigation (BPN) law. In order to enlarge the capture domain of the classical proportional navigation (PN) law and make full use of the maneuverability of a missile, the paper designs time-varying navigation coefficients; thus the modified PN guidance law integrates the advantages of the PN guidance law with those of the retro-PN guidance law. In order to intercept high-speed targets with impact angle constraints, the relative BPN law is introduced, and the impact angle is achieved by controlling the relative flight-path angle. In order to improve the performance of the guidance law for intercepting higher-speed maneuvering targets, some compensation measures are designed for guidance commands. Extensive simulations are conducted to verify the design features of the proportional navigation law.