In recent years, nanoparticles have attracted researchers attention due to its wear and friction reduction characteristics in lubricating oil. Hence, it is of utmost importance to consider nanoparticles additive in the lube oil and study its impact on the tribological and performance characteristics of mechanical systems. Therefore, this paper intends to explore the impact of conventional and hexagonal boron nitride (hBN) nanoparticles‐based lubricant on the wear of engine components, performance, and emission characteristics of a diesel engine. The different concentration namely, 0.5 wt.%, 0.75 wt.%, and 1 wt.% BN‐based nanofluids were formulated. The formulated nanofluids were characterized by UV‐spectroscopy and differential scanning calorimetry (DSC) for dispersion and heat capacity analyses respectively. From the characterization results, 1wt.% BN nanofluid was found stable and well dispersed and therefore, considered for further experimental analysis. The outcomes of the present study revealed that 1 wt.% BN‐based nanofluid shown better anti‐wear properties and improvement in performance, emission characteristics of the diesel engine. The obtained results will be useful for the lubricant industry to think toward formulating nanoparticles‐based lubricating
oil.