A novel method for preparing eco-biodegradable lubricant based on hydroxypropyl methylcellulose (HPMC) via hydration process is demonstrated. The smooth and homogeneous HPMC coating has a uniform thickness (~35 μm). It has been demonstrated that the preparation parameters play a critical role in controlling the lubricating behavior of the coating; in addition, excess HPMC and water concentration suppress the tribology properties. Nevertheless, a remarkable friction-reduction and anti-wear performance has been obtained. Impressively, the preparation parameter of 5% HPMC + 30 mL water significantly improves lubricant performance and durability. A simple approach for the water-degradability evaluation of HPMC is proposed.