The invention relates to the field of equipment for coating liquid on the surface of a workpiece, in particular to a fast bolt oiling tool and a using method thereof. The fast bolt oiling tool comprises a handle (1) and is characterized by further comprising a support disc (2), an outer sleeve (3), a stretching rod (4), a slip sheet (5), an inner sleeve (7), spring plates (8) and oil storage pads(9), wherein the slip sheet (5) is embedded between the outer side face of an inner pipe (31) and the inner side face of an outer pipe (32); the bottom ends of two vertical rods of the stretching rod(4) are fixed on the top surface of the slip sheet (5); the inner sleeve (7) is arranged between the outer side face of the inner pipe (31) and the inner side face of the outer pipe (32); and the outer side faces of the oil storage pads (9) are sequentially attached to corresponding spring plates (8). The using method of the fast bolt oiling tool is characterized by comprising the steps of oil suction, oil painting and bolt taking. The fast bolt oiling tool is fast and efficient and protects a thread.