ABA triblock copolymers of L-lactide and trimethylene carbonate with several different compositions were prepared by sequential ring-opening polymerization in the presence of diethylene glycol. Also chain-extension reactions of the resulting copolymers were carried out using hexamethylene diisocyanate to produce relatively high molecular weight polymers, which could be cast into elastomeric tough films. The polymers with certain L-lactide contents were partially crystalline, exhibiting two-phase morphology. The polymer films showed reversible elastic behavior under tensile tension, providing a novel thermoplastic elastomer possessing desirable properties such as biodegradability and good mechanical properties.