The present invention relates to a hydraulic-transmission- braking three-use lubricating oil composition, which is prepared by mixing the following raw materials, by weight, 85-98% of high viscosity index base oil, 0.1-5% of an extreme pressure wear resistance agent, 0.1-4% of an antioxidant, 0.1-3% of a metal deactivator/antirust agent, 0.1-5% of a friction modifier, and 0.1-2% of a dispersing agent. The hydraulic-transmission- braking three-use lubricating oil composition has beneficial effects of good low temperature fluidity, friction reduction, wear resistance, corrosion resistance, rust resistance, emulsification resistance and foaming resistance, and can meet requirements of universal hydraulic transmission oil used by large-medium-sized tractors and construction machinery so as to achieve complete lubricating protection on hydraulic parts, transmission parts, gear parts, power output parts and braking parts, such that a long service life is provided, equipment operation stability is easily improved, and energy saving and consumption reduction are provided.