The invention discloses a lubricating oil additive with doped carbon nano-graphene. The lubricating oil additive with doped carbon nano-graphene is characterized by comprising the following components in percent by weight: 0.1-0.5% of doped carbon nano-graphene, 0.5-3% of a dispersing agent, 5-23% of borate and 75-94% of an oily solvent. Through replacement of grapheme with the doped carbon nano-graphene, the lubricating oil additive provided with the preparation method provided by the invention has good dispersivity in lubricating base oil, and the lubricating oil has good long-term stability and better wear resistance; meanwhile, the cost of the graphene is 1000-3000 yuan per gram, while the cost of the production material of the doped carbon nano-graphene is about 0.34 yuan per gram, so that the cost of the conventional graphene lubricating oil additive is greatly reduced.