Material Extrusion Additive Manufacturing (MEAM) of magnesium (Mg) alloy implants is emerging as a promising technique for biomedical applications, attributed to its inherent biocompatibility and capability for patient-specific design. A critical aspect in producing these Mg alloy parts is selecting an appropriate binder for the Mg powder feedstock. Conventional binder systems, such as paraffin wax and polyolefins, are limited by a restricted volume fraction of Mg alloy powder in the feedstock. Additionally, oxidation of Mg parts and the lengthy duration of the debinding process are significant challenges. This study investigated the effects of thermoplastic polyurethane (TPU) as a single backbone binder throughout the additive manufacturing process, including debinding and sintering, and compares its effectiveness with conventional binders. A mixture of TPU and Mg alloy was employed as feedstock to produce a 3D printed part, termed the green part. This green part then underwent a debinding process, resulting in a brown part, which was subsequently sintered to create the final sintered part. The dimensional and geometric accuracy of the green part was assessed using image analysis techniques. Furthermore, the impact on mechanical properties and oxidation levels of the brown and sintered parts was evaluated through energy-dispersive X-ray spectroscopy and electrochemical impedance spectroscopy. These outcomes were compared to the results from the parts produced using conventional binders. The findings revealed that the high interaction between TPU and Mg alloy powder resulted in enhanced layer adhesion and increased Mg alloy powder loading in the feedstock. This improvement was crucial for maintaining shape retention during the debinding and sintering processes. Moreover, the use of TPU as a single backbone binder significantly improved the time and energy efficiency of the debinding process, while maintaining low oxidation levels in brown and sintered parts. In conclusion, the study highlights the potential of TPU as a single binder in material extrusion additive manufacturing of Mg alloy.