A coaxial capacitive sensor includes a sensor lubricating oil inlet and a sensor lubricating oil outlet. The sensor lubricating oil inlet and the sensor lubricating oil outlet separately communicate with the interior of the coaxial capacitive sensor. The interior of the coaxial capacitive sensor is provided with a center bearing, electrode support insulating substrates, and electrode plates. The plurality of electrode support insulating substrates and the center bearing divide the interior of the coaxial capacitive sensor into a plurality of detection sub-spaces, and the electrode plates are attached onto the electrode support insulating substrates, respectively. The coaxial capacitive sensor provided by the present invention can be arranged in a lubricating oil pipeline to avoid the influences of environmental factors on the testing results, and can on-line detect the characteristics of the lubricating oil abrasive particles efficiently.