AbstractPolyetheretherketone (PEEK) is a kind of polymer with excellent mechanical properties combined with good wear resistance and has been widely used in the engineering field. In order to explore the possibility for PEEK using as a water‐lubricated bearing material, an in‐depth study on the water lubrication performance of PEEK was conducted by using a series of experiments. The water lubrication performances combined with the lubricating mechanism were evaluated both by the friction coefficient and by the wear behavior of PEEK. The results indicated that PEEK was suitable for water‐lubricated bearing productions. The water film could form effectively between the friction pairs under high sliding velocity, while the transfer film could form under low sliding velocity. Both the water film and the transfer film could improve the water lubrication performance for the friction pairs. Moreover, sliding velocities and contact pressures highly influence the water lubrication performance of PEEK. The increase in contact pressure or the decrease in sliding velocity would exacerbate the wear of material. The stick–slip phenomena also occurred on the specimens under low sliding velocity. The main purpose of this study is to provide an experimental basis for PEEK using as a water‐lubricated bearing material.