The invention discloses an environment-friendly stable leather finishing wax, which is characterized by comprising the following components: by weight, 10-12 parts of cera alba, 8-10 parts of oxidated paraffin, 10-13 parts of vaseline, 5-8 parts of oily lanolin, 0.5-1 part of an antiseptic, 8-12 parts of a paraffin emulsion prepared by oleyl alcohol-terminiated polyurethane, 1-2 parts of stearic acid, 0.5-0.8 part of rosin, 5-8 parts of a shellac alcohol solution having a concentration of one part of shellac to eight parts of alcohol, 1-2 parts of silicone oil, 5-7 parts of alcohol, 0.3-0.5 part of essence, 0.4-0.6 part of dibutyl phthalate, 0.3-0.5 part of polyoxyethylene alkyl phosphate ester, 0.6-0.8 part of polyoxyethylene octylphenol ether, 0.2-0.5 part of alkyl sodium sulfonate, and 200-300 parts of deionized water. The finishing wax in the invention is quite environment-friendly; the paraffin emulsion prepared by the polyurethane is quite stable; and the obtained finishing wax has characteristics of toughness, water-proofness, thermodynamic stability, low cost, various functions, bright application prospect, and good economic value.