In this study, an elastomer-assistered compression molding process was investigated by experiments as well as modeling for the long-fiber reinforced thermoset composites. The consolidation pressure generated by fixed-volume and variable-volume conditions was thermodynamically derived for both elastomer and curing prepregs, and was compared with the pressure measured during curing of epoxy matrix. Exhibiting non-linear viscoelastic characteristics in the compressive stress-strain tests, the measured stress was well compared with a modifed KWW (Kohlrausch-Williame-Watts) equation, which is based on the Maxwell viscoelastic model. Using the developed model equations, the consolidation pressure generated by the elastomer was successfully predicted for the compression molding process of thermoset composite materials in tile closed mold system.