The invention discloses a method for carrying out regeneration treatment on useless lubricating oil, and belongs to the technical field of an oil product quality improving technological process in a petroleum processing technology. The method comprises a solvent treatment step, a membrane separation step, a hydrogenation modification step, an adsorption, supplementation and purification step and a normal-pressure fractionation step. According to the method disclosed by the invention, most of metal and polar additives can be removed by adopting a solvent treatment method and a membrane separation method, aromatic hydrocarbon, heteroatoms, undissolved matters and most of residual carbon and residual metal can be removed through the hydrogenation modification step of a stationary bed, and residual polar additives can be further removed through the adsorption, supplementation and purification step, so that the light stability and the thermal stability of a product are increased, high-quality lubricating oil base oil can be produced, and byproducts of high-quality naphtha and high-quality diesel can be produced.