Ball grinding mill bearing bush lubricating oil and a manufacturing method thereof solve the problem that a ball grinding mill bearing bush is poor in lubrication in the severe environment. The ball grinding mill bearing bush lubricating oil is formed by using synthetic oil as base oil and refining multiple added efficient composite additives, has the advantages of being abrasion-resisting, high-temperature-resisting, oxidation-resisting, firm in formed film and the like, and can repair wire drawing and reduce abrasion and bearing bush temperature at fastest speed. The work efficiency and the product quality are improved obviously, the repair and maintenance costs are reduced, the service life of a device is prolonged, and energy consumption is reduced greatly. The ball grinding mill bearing bush lubricating oil is composed of, by mass, mineral lubricating oil 49%-69%, polyester synthetic oil 20%-40%, thickening agent 0.05%-0.15%, organic molybdenum composite additive 2.5%-4.5%, T306 additive 1%-3%, T202 antioxygen 0.4%-0.6%, T551 metal deactivator 0.7%-0.9% and T704 antirust additive 0.6%-0.8%, wherein the summation of the components is a hundred percent.