In this study, in order to increase the impact strength of polyacetal, the polymer was alloyed with thermoplastic elastomer polyurethane (TPU). In this regard, alloys of polyacetal consisted of 5-50% of thermoplastic elastomer polyurethane were prepared and the physical-mechanical, thermal, rheological and morphological properties were investigated. This study indicates that between these prepared alloys, the impact strength and elongation-at-break reach to a maximum level with 15% and 30% of TPU, respectively. Meanwhile, the impact strength, elastic modulus and crystallinity decrease with increasing the amount of TPU. Studying the dynamic-mechanical properties implies that the damping peak would be higher with increasing the amount of TPU. Morphological investigations indicate that the size of particles of TPU dispersed phase will change in the range of 1-10 mm with increasing the amount of TPU.