Abstract: The current invention relates to a composition for the preparation of thermoplastic polyurethane elastomer for use in a powder slush molding process. The composition for the preparation of thermoplastic polyurethane elastomer includes a polymer consisting of isocyanate, a chain-extension agent and polyol, and montan wax. When the thermoplastic polyurethane elastomer prepared using the composition of the current invention is used in a powder slush molding process, a molded end product is easily released at a powder slush molding process, and molding energy is lowered by lowing a process temperature, thereby shortening a process cycle time, and also, the decreased incidence of a blooming phenomenon and of pin holes results in improved flatness of the molded product. The molding composition of this invention is suitable for manufacturing skin materials of automobile instrument panels.