The invention discloses a fast oil applying device for a chain. The fast oil applying device comprises an oil applying cylinder, a first traction wheel, a second traction wheel, a third traction wheel, a transmission wheel and an oil collecting tank. The first traction wheel and the second traction wheel are arranged on the two sides of a cylinder opening in the upper portion of the oil applying cylinder and are oppositely arranged. The transmission wheel is arranged in the oil applying cylinder. The oil collecting tank is arranged at the upper portion of the side face of the oil applying cylinder and is horizontally arranged. An oil collecting cavity for the chain to penetrate horizontally is formed in the oil collecting tank. The second traction wheel is arranged at an inlet of the oil collecting cavity. The third traction wheel is arranged at an outlet of the oil collecting cavity. Upper oil collecting cotton and lower oil collecting cotton are arranged in the oil collecting tank. A clearance for the chain to penetrate is formed between the upper oil collecting cotton and the lower oil collecting cotton. The fast oil applying device for the chain is simple in overall structure and convenient to install and operate, the fast oil applying process of the chain can be effectively achieved, in addition, the oil applying efficiency is high, lubricating oil cannot be wasted, and practicability is high.