The invention discloses a friction-reducing synergist and a preparation method thereof for the lubricating oil of the supporting wheel bearing bush of a rotary kiln. The mass ratio of each component is as follows: 40-60 parts of polybutene synthetic oil, 20-40 parts of nano molybdenum disulfide 8-17 parts of plastic mixture, 8-12 parts of nano-alumina, 4-6 parts of nano-titanium oxide, 4-6 parts of nano-copper, 2-3 parts of nano-nickel, 6-8 parts of composite antioxidant mixture, poly 3-8 parts of isobutylene and ethylene propylene rubber mixture, wherein the plastic mixture is a mixture of nano polytetrafluoroethylene, polyphenylene sulfide powder and polyimide powder. The beneficial effects of the present invention are: excellent resistance to extreme pressure and wear, low temperature fluidity, high temperature resistance, water shower resistance, anti-oxidation performance and anti-rust and anti-corrosion properties, which can fully repair bearing pad wear, reduce bearing pad heating, and hold pad. , even tile overturning and other phenomena, reduce wear and tear, prolong the service life of the supporting wheel bearing bush, and achieve the purpose of saving energy and reducing consumption; it is easy to operate during use.