A method for producing a thermoplastic elastomer composition comprising using a twin screw kneader to melt-knead a thermoplastic resin and an elastomer; the twin screw kneader having at least two raw material inlets including a first raw material inlet and a second raw material inlet provided at a position separated by 15D to 38D on a downstream side from the first raw material inlet, where D is a cylinder inside diameter of the twin screw kneader; the elastomer being fed in a divided manner from the first and second raw material inlets; a proportion of the elastomer fed from the second raw material inlet being from 10 to 60 vol % of a total amount of the elastomer; and the elastomer being melt-kneaded in a kneading zone having a length of from 0.5D to 20D in a cylinder axis direction of the twin screw kneader.