The preparation of a new antiwear composites based on polyurethane (PU) elastomer blended and modified with ultra-high molecular weight polyethylene (UHMWPE) has been described. The performance of PU-based composites (PUC) with different proportions of UHMWPE micropowder was demonstrated with mechanical testing, thermal gravimetric analysis, scanning electron microscopy, and friction and wear testing. Compared with the single PU elastomeric material, the composites showed excellent mechanical properties (including tensile strength, break elongation, and flexible modulus), thermal stability, extremely good wear resistance, and low coefficient of friction, especially in water. PUC fabricated in this study is a kind of typical wear-resistant material, which is especially suitable for water-lubricated bearings widely used in metallurgy, mining, hydraulic engineering, and other harsh working conditions. C