As an auxiliary agent for rubber processing, polyethylene wax can be used to enhance the diffusion of filler in rubber, improve the extrusion speed of rubber compound and facilitate rubber demoulding, which has good development potential in the field of rubber processing and manufacturing. At present, there is no research on the optimum amount of polyethylene wax in silicone rubber. Therefore, in this paper, we studied the influence of different amount of polyethylene wax on the mechanical and friction properties of silicone rubber. Firstly, silicone rubber composites with different polyethylene wax content were prepared by mechanical mixing and hot pressing. Then, the mechanical properties and friction and wear properties of silicone rubber composites were tested by tensile testing machine and multifunctional comprehensive tester for surface properties of materials. Finally, combined with a series of characterization methods, such as three-dimensional (3D) morphology, scanning electron microscopy (SEM), microscopic observation and energy dispersive X-ray spectroscopy (EDS), the mechanism of polyethylene wax in silicone rubber was studied. The results show that the best addition amount of polyethylene wax in silicone rubber is 0.25 phr, and the friction coefficient of polyethylene wax/silicone rubber composite is the lowest and most stable, and the wear amount is the least. In the process of friction, polyethylene wax can be separated from silicone rubber matrix and distributed on the surface of wear marks, playing a better role in lubrication and wear reduction.