The invention discloses a TPU elastomer composition used for electric wires and cables and based on a dialkyl mono-thiophosphate composite flame-retardant system. The composition is prepared from, byweight, 65%-90% of TPU matrix material, 10%-30% of composite flame-retardant system and 0%-5% of additive, wherein the phosphorus sulfur nitrogen compound flame-retardant system contains dialkyl mono-thiophosphate and a carbon-forming component, the structural formula of the dialkyl mono-thiophosphate is shown as the following formula (I) or (II), in the formula, R1 and R2 are independently selected from linear alkyl or branched alkyl, M is selected from Mg, Ca, Al, Sb, Sn, Ge, Ti, Fe, Zr, Zn, Ce, Bi, Sr, Mn, Li, Na, K, H or NH4, and m is 1-4. The cable material prepared from the TPU elastomercomposition has the advantages of being free of molten drops, high in flame retardance, resistant to migration, abrasion and oil, soft and the like.