I am looking to change my status from TPS to H1B? IS it possible? If it is what i need to do ? thank you.

Yes its possible. Your employer has to file for your H1B and USCIS has to approve your case. For best option, even after H1B selected and approve, renew your TPS for a backup plan.

You may or may not be able to apply for a “change of status” from TPS to H1B and in fact, TPS isn't always a good thing. “Change of status” requires that the applicant currently possesses valid immigration status. TPS is not a valid immigration status.

If you entered the US with some valid immigrant status, say F1 for example, then applied for and was granted TPS and stoped maintaining your F1 status (e.g by stop attending classes), you are considered out of status. By right, at this point you can be subject to deportation but because of TPS, your deportation is deferred for the duration of your TPS. You cannot change into any valid immigration status like H1B anymore.

On the other hand, if you have been maintaining the underlying F1 status while your TPS is active, you can switch to any other immigration status that you qualify for and still retain your TPS if it hasn't expired.

The moral of the story is that TPS should be your last resort: by all means apply to get it if you're eligible but try not to use it as your only way to stay in the country. Always maintain some other valid immigration status.

@s001, did you get the information from some credible source?
I am also on TPS and I was in the same dilemma. I then contacted my attorney and PDSO at my college and they said TPS is also a valid status and we can request for change of status to F1 or any status when TPS ends.

I posted more details here.
http://sajha.com/sajha/html/index.cfm?forum=55&ThreadID=124317

One of my friend was on F1 and filed for TPS. His F1 got expired when he was on TPS. Then applied H1b, went Nepal for stamping and came back on H1B without any issues (he also took AP while traveling out of country just to be on safe side). He has also kept his TPS active by filing for extension.
So, the bottom line is you can change to H1B from TPS.

In my case, I was on F1 --> H1B --> H1B+TPS --> GC --> No issues
My spouse: H4 --> only TPS --> GC --> No Issues

Hey broo i have a few question ,,how can i reach you

Yes, switching to another legal status (H1B, GC) from TPS is allowed by the law if you find a sponsor and meet the criteria for that status, as long as you were NOT out of status for more than 6 months before you had TPS. It is written in USCIS literature and not a personal assumption.

You will not be allowed to adjust status for permanent residency without exiting the US for certain number of years (3-year bar or 10-year bar depending on how long you were OOS) if you were out of status before TPS.

More than 6 months but less than 1 year OOS = 3-year bar
More than a year OOS = 10-year bar

@torilahuredai so that means.. as long as one was in status while TPS was applied but not necessarily during TPS period( one can lose F1 OR H1B during TPS) can later adjust status to GC or H1B without leaving the country.

My spouse adjusted her status from TPS to GC without leaving the country.

@samrock - that is correct