Water-lubricated thrust bearing is a key component of certain main pump motor. In this paper, the right structure of water-lubricated thrust graphite bearings is designed based on low viscosity hydrodynamic lubrication theory by combining the bearings running working condition, and the frictional accessory material is also determined by theoretical analysis and test. The factors influencing lubrication performances of water-lubricated thrust bearings are analyzed; the methods improving lubrication performances are put forward to guarantee that water-lubricated thrust graphite bearings have the good lubrication performances, good carrying capacity and longer work life.