This study explores lubricants derived from Karanja seed oil (Pongamia pinnata) through chemical modification and combined with hexagonal boron nitrides (h-BN) to demonstrate improved load-bearing performance. The tribological properties of pure, chemically modified Karanja oil, and oil mixed with fatty acid functionalized h-BN (fh-BN) were assessed. Initial tests evaluated essential lubricating properties. A 50% chemically modified oil blend performed best at sliding speeds from 0.05 to 0.3 m/s. Key measurements included frictional loss, failure load, wear volume, and coefficient of friction for modified blends and fh-BN nano lubricants. The 100% modified blend (100% MKO) withstood 114% higher load before failure, while fh-BN enhanced load capacity by 107% compared to pure Karanja oil. Post run-in phase, frictional work loss was similar between 100% MKO and pure oil when tested with starvation of lubricants; however, 50% MKO and 0.025 wt% h-BN and fh-BN blends showed reduced frictional work loss. The fatty acid layer on functionalized fh-BN surfaces promotes the formation of a thin tribolayer, enhancing their overall lubrication performance.