The present invention relates to an olefinic tarpaulin prepared by melting and mixing an olefinic copolymer, an olefinic copolymer comprising randomly-coupled ethylene and propylene or vinylacetate, and styrene-ethylene-butane block copolymer in a single screw extruder, and coating the resulting high flexibility and toughness composition on one or both surfaces of a polypropylene woven cloth (multi-filaments) or polyethylene woven cloth (split yarns), and a method for preparing the same. The olefinic tarpaulin comprises a woven cloth formed by weaving polypropylene or polyethylene, and resin layers formed by melting and mixing at least one of ethylene-propylene copolymer and ethylene-vinylacetate copolymer, and styrene-ethylene-butane block copolymer, and styrene-ethylene-butane block copolymer, and coating the resulting composition on one or both surfaces of the woven cloth layer.