High-value utilization of biomass has been driven by increasingly growing industrial demands. Herein, we offer a strategy composed of depolymerization and esterification reaction of lignin to transfer to bio-oil with high liquid yield (79.75~85.25%), which is demonstrated as a high performance lubricant. Overall, the bio-oil has the excellent lubrication properties, where a significant wear reduction of 97.6% was observed as compared with polyethylene glycol 200. Meanwhile, the more ether and less acid in bio-oil could improve the anti-wear properties. This work provides a new application of utilizing lignin in advanced lubrication systems.