Embodiments relate to a highly elastic polyester modified urethane resin and a clear coat composition containing the same, and more particularly, to a highly elastic polyester modified urethane resin having improved chipping resistance by introducing an aliphatic isocyanate and a caprolactone polyol to a polyester resin, and a clear coat composition including the polyester modified urethane resin as a main resin. For example, there is provided a polyester modified urethane resin, including polyester derived units obtained from an aliphatic polyalcohol and an aliphatic or alicyclic polyacid, caprolactone polyol derived units; and aliphatic diisocyanate derived units, as resin constituting units.