A high elastic rubber alloy shaft coupling, comprising a input shaft flange plate (1), elastic body (3), output coupling plate (5) and a output coupling cover (7). Inner toothing circular trapeziform tooth surface of the input shaft flange plate (1) and the external toothing trapeziform tooth surface of the elastic body (3) present an axial tapering slide fit, the elastic body (3) is bonded with the output coupling plate (5) into an integral body in a high strength. The elastic body (3) is a new type engineering composite material, the two-axial end face indent radian radius R is 40 to 60 millimeters, which is embedded with a steel wire ring (4), the torisonal vibration strength is intensified, the torsion angle is controlled in a moderate extent, which can adaptively adjust and compensate non-alignment error of shaft installment, non-counterbalance moment during power transmission is reduced greatly. Advantages of the shaft coupling are vibration damping, noise reduction, safe, reliable, highly effective, energy-saving, using life is long and installment is simple. The shaft coupling of the invention can be applied for power transmission systems of machinery warships, vehicles, petroleum, water conservancy and national defence weapons.