The finite difference method was adopted to solve the Reynolds equation and the film thickness equation of the inner and outer oil film and the floating ring elastic deformation equation.The floating ring elastic deformation at different rotating speeds and different eccentricities was obtained,and the effects of floating ring elastic deformation on the lubrication characteristics of floating ring bearing were studied.The results show that the floating ring elastic deformation is increased gradually with the increasing of rotating speed and eccentricity.The floating ring elastic deformation reduces the carrying capacity,the side leakage flow,and the friction power consumption of the inner oil film;and increases the bearing capacity and the leakage flow of the outer oil film,while it has little influence on the friction power consumption of the outer oil film.