A detailed kinetic analysis of pyrolysis processes of Tennis string polyurethane (TSPU) waste and waterborne polyurethane (WPU) waste was carried out in the present paper. Non-isothermal pyrolysis characterizations of two wastes were acquired through thermogravimetric determinations under the constant heating rates of 5, 10, 15 and 20 K/min. Experimental results showed that the pyrolysis processes of TSPU and WPU were mainly characteristic of three stages and two stages, respectively. Two pyrolysis performance indices, the devolatilization index (DI) and heat-resistance index (HRI), were used to interpret the heating rate effect on the pyrolysis features and different thermal dependences of TSPU and WPU. Isoconversional kinetic analysis was thoroughly performed with model-free and model-fitting methods. By using Starink, Vyazovkin–Dollimore and Coats–Redfern methods, the activation energies thus obtained were in the range of 103.3~148.3 kJ/mol and 92.5~204.3 kJ/mol, respectively, for TSPU and WPU, over the entire pyrolysis process. Their respective pre-exponential factor lnA values were determined to be within 17.94~33.42 min−1 and 16.56~20.82 min−1. Thermodynamic parameters in terms of ΔG#, ΔH# and ΔS# throughout the entire pyrolysis process were also calculated. Finally, by means of the model-fitting Coats–Redfern method, the most appropriate mechanism functions were ascertained for, respectively, describing multi-stage pyrolysis degradations of TSPU and WPU waste. These results may offer meaningful support for designing any industrial pyrolysis reactor to dispose of polyurethane wastes.