The invention discloses a melamine resin microcapsule lubricating oil and a lubricating oil coating material, and preparation methods thereof. The melamine resin microcapsule lubricating oil is prepared through the following steps: adding polyvinyl alcohol, sodium dodecyl benzene sulfonate and deionized water into a beaker, dissolving, then adding a lubricating oil, and stirring for emulsification; slowly pouring the emulsified lubricating oil into a melamine resin prepolymer in three times, controlling a stirring revolving speed, and emulsifying for 30 min, to obtain an emulsified lubricating oil; adjusting the pH value to 2-3 with hydrochloric acid, and carrying out a heating reaction for 3 hours in a 65 DEG C water bath; and carrying out suction filtration on the product, washing with water, drying for 24 h, and thus obtaining the melamine resin microcapsule lubricating oil. The invention also discloses the lubricating oil coating material prepared from the melamine resin microcapsule lubricating oil and the preparation method thereof. The coating material has the stability of solid lubricant materials, also has excellent lubricating performance of liquid oils, and can be widely applied in heavy-load and high-temperature mechanical friction parts required for aeronautics and astronautics, machinery, electronics, chemical industries, shipping and the like.