The invention relates to a thermoplastic elastomer of hydropolymer and a method for preparing the same. The thermoplastic elastomer is mainly applied to aerospace sealing and sealing and shockproof protectors in the fields of electronics, electric power, energy, communication and the like. For the thermoplastic elastomer, the polymer molecular weight is between 100,000 and 500,000, the S-EEP-S three-block structure is adopted, wherein S is a polystyrene section, EEP is an alkadiene section, the melting-contact point is more than or equal to 230 DEG C, the tearing strength is between 40 and 70Ma, the breaking elongation is between 1,500 and 1,900 percent, and the deformation rate is less than or equal to 2 percent; the elastomer can resist acid, alkali and temperature, the temperature resistant range is that the high temperature is 80 DEG C, and the low temperature is 40 DEG C below zero; moreover, the elastomer can shield ultraviolet rays, the anti-ageing capability is 10 years, and the toughness and the strength ISO37 are 10 times of 3MPa.