The invention discloses a waste lubricating oil regeneration method, the waste lubricating oil is pretreated through an external electric field, and then the waste lubricating oil is regenerated through clay adsorption. The external electric field removes the impurities like ions, organic acids, oxides and dust in the waste lubricating oil through pretreatment, the use level of the clay is greatlyreduced, and the waste lubricating oil regeneration method has the advantages of being simple in operation, low in energy consumption, high in yield, environmentally-friendly and the like.