The invention discloses a preparation method of a lubricating oil composition containing ionic liquid, modified nano-zinc powder and graphene. According to the method, base oil, a cleaning agent, a dispersing agent, a preservative, an extreme pressure anti-wear agent, an oiliness agent, an antioxidant, a viscosity index improver, an anti-rust agent, a pour point depressant, an antifoaming agent, ionic liquid, modified nano-zinc powder and graphene are adopted for compounding to obtain the lubricating oil composition. The method has the advantages of simple and easy production process, low equipment investment, low energy consumption and no environmental pollution, and is conductive to popularization and application. The lubricating oil composition product containing the ionic liquid, modified nano-zinc powder and graphene can be widely applied in the industrial fields of mechanical industry, automobile industry, precision instruments, power industry, metallurgical industry, mold manufacturing and application industry, steel and iron industry, machine tool industry and the like, and has broad application prospects.