The invention relates to a door and window transmission handle, and particularly discloses a transmission mechanism handle with a lubricating device. The transmission mechanism handle with the lubricating device comprises a handle seat and a handle which are connected with each other through a square pin and is characterized in that the handle is provided with a lubricating oil cavity communicating with the handle seat; the lubricating oil cavity communicates with a square pin hole formed in the handle through an oil flow channel; two steel balls are symmetrically installed in the handle seatand are abutted by being clamped into springs of the handle seat respectively; the handle seat is internally provided with a gear sleeve for fixing the steel balls; the gear sleeve is provided with acounter bore for riveting the handle; a clamping groove of the gear sleeve is internally provided with a sealing ring; the position, on one side of the sealing ring, of the inner side surface of the handle seat is sequentially provided with a buckling plate and a decorative buckling plate; and the oil flow channel communicates with an oil groove hole formed in the gear sleeve. The transmission mechanism handle is simple in structure, reasonable in design and flexible in application; and by adopting the transmission mechanism handle, the damage caused by abrasion in the using process of the transmission mechanism handle is effectively avoided, the service life of the device is prolonged, and the transmission mechanism handle is suitable for wide popularization and application.