A novel acrylic thermoplastic elastomer (TPE), poly(methyl methacrylate)-block-poly(n-butyl acrylate)-block-poly(methyl methacrylate), was developed by a living anionic polymerization technology. The acrylic TPE has excellent weather-resistance, transparency, flexibility and adhesive property. The applications are now expanding in the fields of pressure sensitive adhesives, molding materials and modifiers.