The invention discloses a polyurethane elastomer polishing material and a preparation method therefor and belongs to the technical field of functional polymer materials and preparation methods therefor. The polyurethane elastomer polishing material is mainly used for solving the technical problems of the existing polyurethane polishing materials that the quality is poor, the preparation process is hard to control, the production cost is high and the environment is easily polluted. According to the polyurethane elastomer polishing material and the preparation method therefor, the polyurethane elastomer polishing material is prepared by a quasi-prepolymerization method, and the polishing material is modified through adding a small amount of hydroxyl-terminated polyether polyol grafted styrene copolymer into the polishing material. The polyurethane elastomer polishing material consists of two ingredients, i.e., an ingredient A and an ingredient B, is prepared through the steps of adding the ingredient A and the ingredient B into a mixing reactor, carrying out rapid stirring for 10 to 15 seconds, then, rapidly pouring the mixture into a cylindrical metallic steel mold for foaming, covering a top cover of the mold in place when the material rises to a position of the two-thirds of the height of the mold through foaming, firmly fixing the top cover, putting the mold in a baking oven of 100 DEG C, carrying out vulcanization molding for 8 hours, and carrying out cooling and can be sliced on a lathe with a lathe tool according to thickness requirements. The polyurethane elastomer polishing material has the advantages that the quality is good, the preparation process is easy to control, the production cost is low and the environment is not polluted.