The invention discloses a TPE flame resistant material for coating plastic and preparing method of the TPE flame resistant material. The TPE flame resistant material is composed of TPE-S, TPO, TPU, TPEE, a composite flame retardant, an antistatic agent, an antioxidant, a compatibilizer, a lubrication release agent and other auxiliaries. The prepared TPE flame resistant material coating plastic is good in fluidity, simple in processing technology, convenient to process and capable of being processed and formed by using an injection molding machine at the temperature between 180 DEG C and 210 DEG C, and production efficiency is high. The processing temperature is lower than 200 DEG C, processing can be conducted at 190 DEG C, energy consumption is lowered due to the low processing temperature, and energy resources are saved.