Provided are a polyurethane elastomer composition excellent in the abrasion resistance and swelling resistance, and a bearing material formed of the polyurethane elastomer composition. The polyurethane elastomer composition contains a polyurethane elastomer of 100 parts by mass, polyethylene wax of 3˜25 parts by mass, and paraffin wax of 1˜10 parts by mass. Further, preferably the polyurethane elastomer composition contains a cobalt based compound of 0.1˜10 parts by mass.