The ultrahigh-molecular-weight polyethylene (UHMWPE) has become the most widely used material for water-lubricated bearings. In the research, the effects of introducing sisal fiber (SF) filler materials on the friction and wear characteristics of UHMWPE-based composites were investigated. The composites were tested against the QSn7-0.2 copper disc, under water-lubricated conditions, using a specially designed testing apparatus. The purpose was to identify an improved material which could be used in water-lubricated bearings. Four types of composites were tested under different sliding velocities and applied loads, which included pure UHMWPE and 10, 20, and 30 wt% SF reinforced UHMWPE. The friction coefficient and wear amount were measured to characterize the tribological properties of these composite materials. Moreover, in order to reveal the primary mechanism involved in friction and wear, various surface characterization techniques were adopted on the surface of composite materials. The analysis results showed that the addition of SF can stabilize the frictional properties and increase the water absorption of SF/UHMWPE composites. Furthermore, the use of a proper percentage of SF can discharge the wear debris, improve the loading capacity, and reduce adhesion wear. The adding of 10% SF in UHMWPE had produced the best anti-friction properties at low speed and heavy load. This work can serve as a reference for the design of hydrophilic fiber reinforced polymer composites to reduce wear and improve lubrication performance.