Although triblock polycarbonate thermoplastic elastomers (TPEs) have recently attracted great interests due to their biodegradability, insufficient attentions have been paid to improving the elastomeric properties. Through a tandem reaction strategy involving CO2 / allyl glycidyl ether (AGE) / cyclohexene oxide (CHO), poly(cyclohexene carbonate)-b-poly(allyl glycidyl ether carbonate)-b-poly(cyclohexene carbonate) (PCAC) is successfully synthesized using a metal-free Lewis acid-base pair catalyst. The synthesized PCACs are pure well-defined ABA triblock all-polycarbonate, which is supported by 1H NMR, gel permeation chromatography (GPC), and diffusion-ordered spectroscopy (DOSY). A simple modification by grafting alkylthiol chains to PCAC results in excellent TPEs named PCAC-g-S-CaH2a+1 (PCASaC). The synthesized TPEs are characterized by atomic force microscopy (AFM), thermogravimetric analysis (TG), differential scanning calorimetry (DSC), and mechanical test. They demonstrate a semi-network and semi-domain phase separation structure, wide service temperature range, good strength, high elongation, and extremely high elastic recovery properties. This low-cost, biodegradable, high-performance TPE shows great potential for applications in biomedical, wearable products, sports equipment, and other fields.