In order to solve the unidirectional shape memory effect problem of most current shape memory polymers， a shape memory polymer composite with laminated structure is prepared by combining TDE-86 epoxy resin modified hydrogenated bisphenol A epoxy resin and polyurethane elastomer with polybutadiene as soft segment. The composite exhibits two-way shape memory behavior under stress-free condition because of the balance between the restoring force generated by the shape memory epoxy resin and the contraction force generated by the pre-stretched polyurethane elastomer. It demonstrates reverse bending when heated and cooled in the temperature range of 90~ 110 ℃. The results show that the greater the pre-stretched strain of the polyurethane elastomer， the larger the degree of bending in the entire temperature range. When the recovery temperature is at or above the glass transition temperature of the shape memory epoxy resin， the degree of recovery is greater. The thickness of the elastomer will increase the initial degree of bending but reduce the degree of deformation and recovery during the two-way shape memory process.