The invention relates to a graphene lubricating oil additive. The graphene lubricating oil additive comprises, by mass, 5-20 parts of a graphene oxide suspension, 1-5 parts of nanometer calcium carbonate, 2-4 parts of nanometer boron nitride, 3-6 parts of nanometer molybdenum disulfide, 2-8 parts of expanded graphite, 1-5 parts of nano-zirconia, 2-8 parts of nano-aluminua, 1-6 parts of nanometer titanium dioxide, 1-8 parts of nano-silica, 3-5 parts of N,N'-di-sec-butyl-p-phenylenediamine, 4-6 parts of di-tert-butyl-p-cresol, 2-5 parts of polyvinyl alcohol, 2-8 parts of methyl acrylate, 1-5 parts of pentaerythritol and 2-8 parts of nanometer zinc oxide. A ceramic-like layer formed by the lubricant additive has the advantage of ultrahigh hardness, super wear resistance, prolongation of the overhaul life of an engine, good lubricating performance, fuel saving, vibration reduction, engine noise reduction, power increase, reduction or eradication of the burning oil phenomenon and reductionof harmful gases in tail gas.