The special crystal structure of graphene determines its excellent physical and chemical properties and has very important application prospects in the field of friction reduction and anti-wear of mechanical parts. In recent years, graphene has been widely used as an excellent solid lubricant for lubrication and wear reduction coatings. This paper reviews the preparation process of various types of graphene anti-wear lubricating coatings and looks into the future development of graphene anti-wear lubricating coatings. This paper firstly briefly introduces the structural characteristics, physical properties and dispersion modification methods of graphene pointing out that the current dispersion modification methods are mainly physical and chemical dispersion methods. The physical dispersion method is to disperse the graphite flakes by mechanical shear force, and the chemical dispersion method is to modify the graphene molecules with functionalized functional groups, but they have the limitations of low dispersion efficiency and possible introduction of defects, respectively. Then, the microscopic and macroscopic friction reduction mechanisms of graphene are outlined, namely the puckering mechanism and the interlayer slip mechanism of graphite-like respectively. In addition the excellent corrosion resistance of graphene contributes to its friction reduction and anti-wear properties in corrosive service conditions. On this basis, starting from the classification of graphene wear reduction and lubrication coating preparation process, we focus on the detailed introduction of various graphene friction reduction and anti-wear coating preparation methods, mainly the dispersive drop coating method, chemical vapor deposition method and electrodeposition method. The basic principles of each method are explained, and the advantages, disadvantages and application scope of each method are clarified. The dispersive drop coating method is to disperse graphene in a dispersion and apply the dispersion to the substrate by dropping or spraying, leaving a graphene film when the dispersion evaporates. This method has the advantages of simple preparation and low preparation cost, but the bonding force between the coating and the substrate is very low. The CVD method involves depositing a layer of graphene on a metal substrate (e.g., copper, nickel, etc.) when hydrogen and methane or other carbon-containing gases are passed through the metal substrate with catalytic effect under high-temperature argon conditions. The graphene film prepared by this method is flat and strongly bonded to the substrate, but it requires high substrate and equipment requirements, and the preparation cost is high. The electrodeposition method is mainly divided into the electrophoretic deposition method and the composite plating method. Electrophoretic deposition is the process of forming a layer of coating by moving the charged particles in the suspension to the opposite charged electrode under the influence of electric field; composite plating method is to disperse graphene in the plating solution, metal ions modify the graphene edges, graphene is deposited at the cathode under the action of electric field force, and metal ions are reduced at the cathode to achieve co-deposition. The electrodeposition method is a simple and controllable process, and is a highly promising method for graphene coating preparation. Finally, in view of the problems in the preparation and application of graphene friction reduction and anti-wear coatings, the design-preparation-application direction of graphene friction reduction and anti-wear coatings is prospected, and the research should focus on four aspects:improving the stability of graphene dispersion, economic applicability, standardization of production, and adaptability to harsh working conditions.