Thermoplastic polyurethane (TPU) composites filled with fullerene in the range from 0.5 wt% to 2 wt% were fabricated using melt-compounding. Fullerene addition levels up to nearly twofold increase in tensile strength, percent elongation, and modulus of TPU. The mechanical properties are improved as modified C-60 content decreases. Fullerene loadings also enhance thermal stability of TPU. Glass transition temperature decreases by the inclusion of C-60 into TPU matrix. Composites exhibited the improvement for storage modulus and vibration-damping behavior. The UL-94 rating and limiting oxygen index value of TPU are also extended to higher values after C-60 loadings. Adjuvant effect is observed on fire performance in which pristine C-60 inclusions and higher concentrations of C-60 exhibit better fire performance. Additions of C-60 give identical melt flow index values with that of TPU. Modified C-60 particles disperse more homogeneously than pristine ones into TPU matrix because of the improvement in interfacial interactions between fullerene and polyurethane elastomer.