Solid-liquid synergistic lubrication, in combination with the advantages of solid and liquid lubrication, has gained the great popularity in recent years. However, the mechanism of solid-liquid synergetic lubrication is still unclear. In this paper, graphite and poly α-olefin base oil (PAO) were used as self-lubricating additives to evaluate their synergistic effect. The results show that the composites possess good mechanical and excellent tribological properties with a nanoindentation modulus of 3.8 GPa, a coefficient of friction of 0.0998, as well as a wear rate of 1.3 × 10−14 m3/N·m. Both transfer film and lubricating oil film exist on the friction interface, and the lubricating oil film protects the counter ball from excessive oxidation. At the same time, with combination of molecular dynamics (MD) simulation and first-principles calculations, the synergistic lubrication mechanism of graphite and PAO was manifested. PAO destroyed the interlayer structure of graphite, making it easier to form a transfer film on the counter ball surface. The weak chemical bond between graphite and PAO facilitates more PAO molecules to gather at the interface while forming the transfer film, which benefits the formation of lubricating oil film. The synergistic effect of graphite and PAO molecules is critical in promoting the further reduction of COF.