The infrastructure construction process cannot be separated from construction machinery; it will inevitably produce wear and tear in the work. The level of wear and tear is severe and could cause mechanical accidents. There are safety hazards involved with wear and tear; thus, the study of the lubrication systems of construction machinery is crucial. This paper addresses the problems with the intelligent lubrication systems of construction machinery and establishes a performance evaluation index system for the intelligent lubrication systems of construction machinery by analyzing and selecting appropriate evaluation indexes. Based on the built evaluation system, a performance evaluation model was established based on the hierarchical analysis (analytic hierarchy process, AHP)–entropy weight method and a topological object element model. The feasibility of the model was tested using the example of an off-road mining dump truck. This model analyzes the performance strengths and weaknesses of smart lubrication systems and suggests improvement measures and recommendations for weak links. It also provides a reference for analyzing the performance of smart lubrication systems for other mechanical devices.