The invention relates to a floating oil-seal ring which has an upper layer and a lower layer and is forged by powder alloy. The floating oil-seal ring comprises the upper layer and the lower layer, wherein the upper layer is made of rare alloy powder materials, and chemical compositions in weight percentage of the upper layer are as follows: 0.5 to 3 percent of Cu, 0.5 to 1 percent of C, 0.5 to 2percent of Cr, 0.5 to 1.5 percent of MoS2, and the balance being Fe; the lower layer is made of ordinary iron powder materials, and chemical compositions in weight percentage of the lower layer are as follows: 0.5 to 3 percent of Cu, 0.5 to 1 percent of C, and the balance being Fe; and the upper layer and the lower layer are sintered into an integrated floating oil-seal ring through pressing and high-temperature sintering. The upper layer of the floating oil-seal ring is made of high alloy powder, the lower layer is made of ordinary iron-based powder, and then the heat treatment process is performed, thereby assuring reasonable quenching depth as well as higher wear resistance and anti-fatigue performance; and the floating oil-seal ring has steady working performance, the service life is improved by 50 to 100 times, and the production cost is greatly reduced.