The invention discloses finished bearing product water-based detergent which is environmentally friendly, safe, economical and capable of effectively reducing bearing noise. The finished bearing product water-based detergent comprises, by mass, 8-15 parts of triethanolamine oleate, 0.5-1.5 parts of oxidic polyethylene, 3-8 parts of machine oil, 6-15 parts of petroleum sodium sulfonate, 2.5-5 partsof an NEUF-M194 metaborate ester antirust agent, 2-4 parts of a Plurafac LF431 low-foam nonionic surface active agent, 0.5-1 part of triazole, 3-8 parts of an NEUF 316 boronic acylamide antirust agent and 42.5-74.5 parts of water in a mixed mode. The preparation method includes the steps that the triethanolamine oleate, the oxidic polyethylene, the machine oil, the petroleum sodium sulfonate, theNEUF-M194 metaborate ester antirust agent and the NEUF 316 boronic acylamide antirust agent are heated to 60 DEG C and are further mixed and stirred for one hour according to the mass ratio, and thenother raw materials are added to be mixed and stirred for one hour continuously.