This study explores the modification of traditional Chinese lacquer by incorporating boiled tung oil (BTO), boiled linseed oil (BLO), and turpentine oil (TO) to enhance its properties for gold leafing applications. Current traditional lacquers are limited by slow drying times and inconsistent surface quality, making their performance suboptimal for decorative gilding. The research addresses these gaps by investigating how varying oil types and concentrations (10%, 30%, and 50%) affect the lacquer’s drying time, viscosity, leveling properties, and overall gilding performance. Results indicate that TO-modified lacquer exhibits the best overall performance, showing the fastest drying time, highest glossiness, and smallest color variation, while BTO provides the smoothest surface and BLO ensures the best adhesion. These results demonstrate that the careful selection of oil type and concentration significantly improves lacquer’s functionality for gold leafing, offering a more efficient and aesthetically superior alternative to unmodified lacquers. This study provides valuable insights for optimizing traditional lacquer formulations for modern applications in gilding and decorative finishes.