A fine pulling lube cooling emulsified oil of copper alloy consists of motor oil 56-60wt%, oleic acid 8-12wt%, mersolates 8-12wt%, zinc naphthenate 4-6wt%, triethyl phosphate 8-10wt%, anhydrous alcohol 1-2wt%, dibutyl phthalate 1-3wt%, non-ionic surface activator 3-6wt% and benamide azole trinitride 0.5-1wt%. The process is carried out by putting motor oil into reactor, heating to 60-70degree, adding mersolates, zinc naphthenate, triethyl phosphate, dibutyl phthalate and oleic acid into motor oil successively, agitating at 600-650 / min for 1-2hrs, dissolving benamide azole trinitride by anhydrous alcohol, adding into mixed solution, adding into non-ionic surface activator, agitating and lowering temperature. It can prevent pulling metal from overheat and oxidation coloring and have better finish degree and brightness.