The invention relates to the technical field of polyurethane elastomers and particularly relates to a low-smoke flame-retarding ceramizable thermoplastic polyurethane elastomer composite material, a preparation method and an application thereof. The composite material comprises, by weight, 25-85 parts of thermoplastic polyurethane, 40-60 parts of a ceramization powder, 5-15 parts of a high-effect flame retardant, 1-10 parts of a smoke inhibitor, 0.5-5 parts of a compatilizer, 0.02-0.1 parts of an antioxidant and 0.02-0.1 parts of a hydrolysis inhibitor. The thermoplastic polyurethane elastomer composite material has excellent flame-retarding effect, low smoke density, high strength, good flexibility and high break elongation, can form a compact ceramized product at the temperature range of 600-1000 DEG C, is low in ceramization temperature and can form compact ceramic. The formed ceramized product has high high-temperature strength and anti-heat-flow-impact capability.