The invention relates to a method for tempering a wire rope lubricant by using waste oil. The method comprises that: (1) the waste oil is subjected to dehydration and filtration to obtain the physical processed waste oil; (2) the physical processed waste oil is adopted as base oil, and is tempered at a temperature range of 40-60 DEG C according to a center viscosity of 320 cst to prepare the wirerope lubricant. With the method, operation is simple; the waste oil raw material is cheap and available; pollution of the waste oil to environment is avoided so as to protect the environment. In addition, the wire rope lubricant provided by the present invention accords with lubrication requirements of the wire rope of crane, and has good lubrication effect and wide popularization value.