New thermoplastic polyurethane elastomers (TPUs) were obtained by a one-step melt polyaddition from 30, 45 and 60 mol% aliphatic polycarbonate diol of M n = 2000 g mol−1 (Desmophen® C2200, Bayer), 1,1′-methanediylbis(4-isocyanatocyclohexane) (HMDI) or 1,6-diisocyanatohexane (HDI) and 2,2′-[sulfanediylbis(benzene-1,4-diyloxy)]diethanol (acting as a chain extender). The TPUs were examined by FTIR, UV–Vis, atomic force microscopy, X-ray diffraction analysis, differential scanning calorimetry, thermogravimetry (TG) and TG–FTIR. Moreover, their Shore A/D hardness, tensile, adhesive and optical properties were determined. The obtained TPUs were transparent or opaque high molar mass materials, showing amorphous or partially crystalline structures. The HDI-based TPUs exhibited lower glass-transition temperatures than those based on HMDI (from −35 to −31 °C vs. from −20 to 1 °C) as well as a higher degree of microphase separation. The TPUs were stable up to 262–272 °C, taking into account the temperature of 1 % mass loss, with somewhat higher values shown by those from HDI. They decomposed in two stages. The main volatile products of the hard-segment decomposition were carbon dioxide, water and carbonyl sulfide, while aliphatic ethers, aldehydes and unsaturated alcohols, as well as carbon dioxide, originated from the soft-segment decomposition. The synthesized TPUs, with hardness in the range of 80–90°Sh A, possessed a good tensile strength (33.0–38.7 MPa), similar to that of the commercial biodurable medical grade TPU ChronoFlex® AL 80A (37.9 MPa), prepared from aliphatic polycarbonate diol, HMDI and butane-1,4-diol.