This paper presents the design methodology of a small guided bomb for Unmanned Aerial Vehicles. This kind of next-generation munition has recently gained a lot of attention in the military market. The bomb is planned to be equipped with inertial measurement unit and infrared seeker. The nose shape and fin optimization procedure was described shortly. Aerodynamic characteristics were calculated by means of theoretical and engineering-level methods. The flight dynamics model of the bomb was obtained and implemented in Simulink software. The numerical simulations of uncontrolled and controlled trajectories were compared. The results indicate that the usage of such a guided small munition, like the designed bomb, might improve significantly the offensive capabilities of Unmanned Aerial Vehicles.