The invention provides a plugging extreme-pressure lubricant as well as a preparation method and application of the plugging extreme-pressure lubricant. The plugging extreme-pressure lubricant comprises 70wt%-85wt% of modified vegetable oil, 2wt%-5wt% of extreme-pressure anti-wear agent and 8wt%-15wt% of surfactant. According to the plugging extreme-pressure lubricant provided by the invention, the modified vegetable oil which is easily biodegraded is adopted, and a sulfur-type additive with good extreme-pressure and anti-wear properties is added, so that the lubricant is environment-friendly,good in extreme-pressure lubricating property and compatibility, capable of obviously improving the quality of a mud cake in a drilling fluid and good in plugging effect and can be favorably appliedto a well drilling site and can be applied to wear and resistance reduction during well drilling operation of a large-displacement horizontal well, a directional well, a long open hole deep well, a complex structural well and the like.