In this study, the PTFE/Kevlar self-lubricating composite was prepared for the service conditions of high frequency oscillation. The full-life cycle friction and wear characteristics was analyzed, and the tribological properties and failure mechanism at different life stages were studied. Fatigue life test of PTFE/Kevlar self-lubricating composite was performed by a self-developed heavy load reciprocating test machine. Results show that the self-lubricating performance of the material increases while the wear life decreases with the increase of stress and frequency. The main failure mode of the material consists of abrasive wear and adhesive wear, accompanied by extrusion fracture of the fiber. Tribological performance and surface state show distinct phase characteristics in the life cycle. The change of frequency affects the adhesive wear degree in the fiber fracture area. Differently, the change of stress affects the adhesive wear degree in the fiber fracture area as well as the uniform stability of the transfer film. The comparison of frequency and stress shows that the change of frequency has a greater influence on the material self-lubricating performance and life. This study could provide a research basis for the design and development of self-lubricating composites in high frequency oscillating conditions, and also provide reference data for the calibration of service conditions for PTFE/Kevlar self-lubricating composites.