The invention relates to a graphene-containing lubricating oil and a preparation method thereof. The graphene-containing lubricating oil comprises the following components by weight: 0.1-1 part of graphene, 72-85 parts of synthetic base oil, 0.8-3.2 parts of a composite antioxidant, 0.5-1.5 parts of a metal detergent, 2.3-6.5 parts of an ashless dispersant, 0.05-1.5 parts of a nanoscale friction modifier, 2.0-10.0 parts of a viscosity index improver, 0.2-1.0 part of a pour point reducer, and 50ppm of a defoamer. The preparation method includes: putting the synthetic base oil into a blending kettle, performing stirring, then adding the pour point reducer, the viscosity index improver, the composite antioxidant, the metal detergent, the ashless dispersant, and the nanoscale friction modifier, stirring the substances evenly, adding graphene and the defoamer, maintaining the original temperature, stirring the materials evenly, and performing standing. The graphene-containing lubricating oil provided by the invention solves the problems of corrosion and selectivity in traditional lubricating oil additives, at the same time the process is improved, and the ultrasonic dispersion link of graphene is eliminated.