The invention provides an immediately available anti-wear lubricant additive with environmental protection, high efficiency and low cost and a preparation method thereof, and the method comprises the steps as follows according to the parts by weight: 1) putting lead oxide of 15 to 20 parts into base oil 650SN of 80 to 90 parts under room temperature, and giving stirring to produce paste; 2) giving heating and stirring for naphthenic acid of 250 parts until to temperature between 95 and 105 DEG C, slowly adding the naphthenic acid into the pasty mass, and then giving stirring for 3 to 3.5 hours under the constant temperature 95 and 105 DEG C, to acquire mother liquid; 3) adding base oil 650SN of 50 parts, pour point depressants of 2 to 3 parts, high-alkaline synthetic calcium sulphonate as detergent of 10 parts, ashless dispersant with polyisobutylene and multi-succimide of 10 parts, sulphur and phosphorous secondary-alcohol radical zinc salt as antioxidant and corrosion inhibitor of 10 parts, high-alkaline sulfonate as anti-wear additive of 3 to 6 parts, and sulfurized calcium alkyl detergent of 10 to 15 parts; 4) stirring for 1.5 hours under the constant temperature between 70 and 80 DEG C; 5) filtering. The preparation method of the invention has the advantages of simple procedures, no waste water or gas, environmental protection, high efficiency, low cost and high yielding. The anti-wear lubricating oil additive acquired by the preparation method can be used in combination with the lubricating oil, and extend the exchange period two to three times longer and the service life of engines one to two times longer.