The invention discloses a thermoplastic elastomer material and a plastic plug made of same. The thermoplastic elastomer material consists of the following components in percentage by weight: 40 to 60 percent of main material, 8 to 27 percent of main filler, 25 to 35 percent of toughening agent and 0 to 6.5 percent of auxiliary filler, wherein the main material is ethylene propylene rubber; the main filler contains polypropylene; and the toughening agent contains styrene, ethane, butane and styrene block copolymer (SEBS). The thermoplastic elastomer material has high elasticity, strength and resilience of rubber, and has the characteristic of capacity of being subjected to injection molding; compared with the traditional process, the method has the advantages of greatly shortening working time; and the thermoplastic elastomer material has the advantages of environmental friendliness, nontoxicity, safety, wide hardness range, good dyeing property, soft touch, weather resistance, fatigue resistance, temperature tolerance, and excellent processability, is not needed to be sulfurized, and can be recycled, so that the cost is reduced and the market competition is improved.