Vegetable oils, which are considered potential lubricants, are composed of different types and proportions of fatty acids. Because of their diverse types and varying compositions, they exhibit different lubrication performances. The genetic function approximation algorithm was used to model the quantitative structure–property relationship between fatty acid structure and the wear scar diameter and friction coefficients measured by four-ball friction and wear tests. Based on the models with adjusted R2 greater than 0.9 and fatty acid compositions of vegetable oils, the wear scar diameter and friction coefficients of Xanthoceras sorbifolia bunge oil and Soybean oil as validation oil samples were predicted. The difference between the predicted and experimental values was small, indicating that the models could accurately predict the lubrication performances of vegetable oils. The lubrication performances of 14 kinds of vegetable oils were predicted by GFA-QSPR models, and the primary factors influencing their lubrication properties were studied by cluster analysis. The results show that the content of C18:1 has a positive effect on the lubrication performances of vegetable oils, while the content of C18:3 has a negative effect, and the length of the carbon chain of fatty acids significantly affects their lubrication properties.