As the power industry continues to move towards green and low-carbon development, traditional petroleum-based plastics widely used in non-metallic electrical equipment in the power system also urgently need to find new green alternatives. Polylactic acid (PLA), as a bio-based degradable material, has a promising application prospect. This study aims to enhance the toughness and hydrophobicity of polylactic acid by introducing fluorine-modified polyurethane elastomer (FPU), in order to promote the application of polylactic acid materials in industries such as energy and power. The experimental results show that the toughening effect of FPU is not obvious when the addition amount is small. When the addition amount of FPU is 20 wt%, the impact strength can reach 66.81 kJ/m2, which is an increase of 266.28%. However, the introduction of FPU will reduce the bending strength and tensile strength of the material, but the overall mechanical properties are more balanced. In terms of hydrophobic performance, with the increase of FPU content, the water contact Angle of PLA/FPU blends can reach 101.31°, achieving a synergistic improvement in toughening and hydrophobic performance. This can promote the application of polylactic acid materials in environments with high strength and high hydrophobic requirements, and is beneficial for the application of polylactic acid in electrical and other fields.