The present invention relates to a method for preparing high-elasticity warm-keeping polyester composite yarn, which uses an oiling equipment, the oiling equipment includes a bottom plate, a mounting plate, an oiling device and a recovery box, and the above-mentioned oiling equipment is used to prepare high-elasticity warm-keeping polyester The specific process of the composite yarn is as follows: spun fiber forming, spun fiber oiling, spun fiber post-processing and winding molding, the oiling device includes a fixed rod, a rotating drum, an auxiliary mechanism, a driving mechanism, an oil storage cylinder, and an oiling sponge sleeve, oil suction column, sliding block, oil baffle, limit tube, connecting rod, moving rod and fixed ring. The invention uses the oiling device to cooperate with the existing traction equipment to complete the oiling work of the primary fiber. During the oiling process, the relative movement between the moving rod and the fixed ring drives the oil absorption column and the limit cylinder to stir the lubricating oil, and at the same time The bonding tightness between the primary fiber and the oiling sponge cover is increased through the auxiliary mechanism to improve the uniformity of oiling.