The structure and working principle of a lubricator were introduced. A mathematical model was built, and the dynamic performance simulation was done.The results show good oil supply characteristics of the lubricator and the impact phenomenon of lubricator part. Using dynamic performance simulation results as input, impact stress of the lubricator part was studied. The results show that lubricator meets the strength requirement. Finally, the influences of the key parameter to dynamic performance and impact strength were analyzed. The result has certain instruct significance on optimization and design of lubricator.