An environment-friendly type lubricating oil additive is composed of the following raw materials in parts by weight: 7 to 12 parts of castor oil polyoxyethylene ether, 3 to 6 parts of molybdenum disulfide colloid, 2 to 7 parts of n-octadecanoic acid, 4 to 8 parts of critic acid, 6 to 13 parts of molybdenum dialkyldithiophosphate, 4 to 8 parts of butyl oleate, 3 to 6 parts of tackifier, 5 to 8 parts of o-toluidine/m-toluidine, 6 to 8 parts of methyl citrate, 4 to 7 parts of triphenyl phosphorothionate, 6 to 12 parts of sulfurized isobutylene, 5 to 8 parts of benzotriazole amine, 2 to 6 parts of n-butyl acetate, 1 to 4 parts of p-methoxyl styrene, 8 to 16 parts of linoleic acid, 4 to 6 parts of methanol, 7 to 13 parts of polyethylene glycol monomethyl ether, 4 to 7 parts of magnesium silicate, and 4 to 6 parts of fluorine surfactant. The provided environment-friendly type lubricating oil additive can improve the wear-resistant performance, extreme pressure resistant performance, and oxidation resistant performance of lubricating oil, has the advantages of convenient operation and environment-friendliness, and is according with the green and environment-protection requirements.