Provided are a formulation which creates protection layers on the metal friction and wear surface and a method for preparing the same. The formulation provided here comprises 45-99 parts laminar hydroxyl silicate powders, 1-50 parts formulation which creates protection layers on the metal surface and method for preparing the same and 0.05-6 parts carbonization-graphitization catalyst, calculated by weight. Also provided is method for preparing the same. The formulation provided here could create a friction-reducing and wear-resistant nanocrystal protection layer in situ on the metal friction and wear surface, at the same time, it has high hardness of cermet and elastic modulus of formulation which creates protection layers on the metal surface and method for preparing the same high grade alloy steel.