A tire sealant composition for use in pneumatic tires is provided. The tire sealant composition primarily serves to seal the tire around the wheel rim and particularly in the tread area of the tire against punctures. The composition includes a naturally derived viscous carrier fluid and at least one fibrous material, polymeric material or combination of both, wherein the composition remains fluid in use. The naturally derived viscous carrier fluid is preferably desugared molasses (less than 30% by weight sucrose) and is able to sustain a temperature of −30° F. (−34.4° C. and below) without freezing. The tire sealant composition is fire-retardant, non-toxic, non-corrosive and non-abrasive and is environmentally friendly.