Lithium grease was prepared by using α-ZrP as solid lubricant and 2,6-di-tert-butyl-p-cresol (BHT) and diphenylamine (DPA) as antioxidants. The synergistic effects of the two antioxidants on the tribological properties of α-ZrP lithium grease were investigated on an SRV high frequency linear reciprocating tester and a four-ball tester separately. The abrasive surfaces were characterized by 3D optical profiler, scanning electron microscope (SEM) and energy dispersive X-ray spectrometer (EDS). When the antioxidant concentration is 1.0%, the anti-wear properties of lithium grease can be improved obviously while keeping stable in anti-friction performance, thus effectively prolonging the life of α-ZrP grease.