The invention discloses a silver alloy grinding processing technology lubricant composition. 50% By mass of poly-alpha-olefin and 50% by mass of ester oil Radia7543 are compounded to form base oil, and multiple composite additives cooperate with the base oil. The composite additives comprises an antioxidant, a metal passivator, an oily agent, a friction improver, an extreme pressure agent, an antiwear agent, an antirust agent, an antifoaming agent, a deemulsifier, a dispersant and a filler. The composition has the advantages of good cooling property, good lubricity, good diffusion property, good cleaning property, good anticorrosive property, good antirust property, low volatility, good oxidation resistance, low oil mist, good antifoaming property, good microbe resistance, good intermiscibility with paints, large heat capacity, reduction of generation of heat between abrasive particles in a grinding area and a workpiece, realization of rapid release of the generated heat, improvement of the surface quality and the efficiency of the workpiece, and facilitation of abrasive dust recovery.