Lubricating oil with high abrasion resistance is prepared in the steps of 1, heating and mixing 50-70 parts of first base oil, 30-40 parts of second base oil, 10-20 parts of polyethylene glycol, 3-5 parts of rosin modified phenolic resin, 1-3 parts of di-secondary alcohol alkyl dithiophosphate zinc, 1-4 parts of sodium benzoate, and 5-8 parts of glyceryl monostearate to obtain a mixture; 2, adding 1-4 parts of antioxygen, 1-4 parts of metal cleanser, 1-4 parts of antirust agent, and 1-4 parts of nonionic surfactant to the mixture obtained in the step 1, and conducting heating and stirring sequentially to obtain the lubricating oil. The lubricating oil is high in kinematic viscosity, small in wear scar diameter and high in lubricating performance.