The invention discloses a preparation method of novel two-dimensional material reinforced polyethylene glycol lubricating oil. The preparation method comprises the following steps: step I, adding Ti3AlC2 powder into an HF solution, performing the corrosion reaction, magnetically stirring for a plurality of time, then centrifugally washing, vacuum drying, and obtaining Ti3C2 powder; step II, mixingthe Ti3C3 powder in step I and an intercalating solvent, stirring, washing, drying, and obtaining the processed Ti3C2 powder; step III, dissolving the Ti3C2 powder processed in step II in the deionized water, ultrasonically processing, centrifuging, collecting supernatant, drying, and obtaining Ti3C2 two-dimensional nanosheets; and step IV, stirring and mixing the Ti3C2 two-dimensional nanosheetsobtained in the step III and polyethylene glycol, preparing different solutions of different concentrations, ultrasonically processing, and then performing the friction abrasion experiment. The preparation method has the advantages of excellent cooling performance, difficulty in combustion, low pollution, low cost and the like.