The invention discloses oxidation-resisting lubricating oil for civil use, which is prepared from the following components in parts by weight: 10 to 30 parts of vegetable oil, 10 to 12 parts of triethanolamine oleate, 5 to 10 parts of alpha-olefin polymer, 10 to 15 parts of polypropylene glycol adipate, 5 to 10 parts of dipropylene glycol dibenzoate, 3 to 6 parts of chlorinated paraffin, 2 to 10 parts of organosiloxane, 3 to 8 parts of boric acid, 3 to 6 parts of anticreaming agent, 5 to 10 parts of triethanolamine, 1.5 to 7.5 parts of organic molybdenum, 3 to 6 parts of alkyl diphenylamine, and 0.3 to 2.5 parts of additive. The invention provides the oxidation-resisting lubricating oil for the civil use and a preparation method thereof, wherein the lubricating oil is excellent in anti-rust property, antioxidant resistance and abrasion resistance, has good foam inhibition and defoaming properties and good chemical inertness, and cannot have chemical reaction with defoamed medium under different pH values and different temperatures.