The invention belongs to the technical field of development and manufacture of petrochemical products and in particular relates to universal type synthetic gasoline-diesel lubrication oil and a preparation method thereof. The lubrication oil comprises the following raw materials in parts by weight: 0.01-30 parts of synthetic ester base oil, 0.01-90 parts of mineral oil, 0.01-90 parts of olefin synthesis oil PAO, 5.0-10.0 parts of a viscosity modifier, 3-10.0 parts of a clearing agent, 1.0-5.0 parts of a dispersing agent, 0.5-3.0 parts of an oxidation and corrosion inhibitor, 1.0-3.0 parts of a pour point depressant, 0.5-3.0 parts of FK303 and 0.0001-0.01 part of a defoaming agent. The preparation method of the lubrication oil comprises the following steps: step one, adding synthetic ester base oil, the mineral oil and the olefin synthesis oil PAO in a mixing kettle, and stirring at 80-90 DEG C for 1 hour; step two, adding the viscosity modifier into the mixing kettle in the step one, and continuing to stir at 80-90 DEG C for 3 hours; adding the clearing agent, the dispersing agent, the oxidation and corrosion inhibitor, the pour point depressant, FK303 and the defoaming agent into the mixing kettle and continuing to stir at 80-90 DEG C for 1-2 hours to obtain the lubrication oil. The universal type synthetic gasoline-diesel lubrication oil is mainly used in the application field of motor vehicle lubricating oil.