Nanodiamond powder synthesized by explosive detonation has properties of both diamond and nanometer particles. With its specific properties, nanodiamond will open up a prosperous prospect for developing new kinds of composites. In view of its relatively short history, the characteristics of nanodiamond has not been comprehensively investigated,and the study of its possible applications is just at a primary stage. In this paper, the dispersion of nanodiamond was mainly studied, and the applications of nanodiamond were also tried. Composition, srructure and characteristics of nanodiamond were analysed in the paper. And the dispersion-steady theory, conglobation mechanism of nanopargicle were researched. The nanodiamond dispersion experiment was done by inorganic electrolyte, surface-active agent and supersonic wave methods. Studies showed that sodium silicate and sodium phosphoric are good dispersants for nanodiamond. The optimum comcentration of their solution is 1-1.5g/L. Supersonic wave disperse research indicated, ethanediol as the disperse medium, it could got suspending liquid about for firve days, but relatively large in grain size. However, combined use of lauryl sodium sulfate and maleic anhydride as disperse medium, the disperse result among water was better than the former, and it would be steady for two days.The antifriction mechanics of nanometer lubriation material was investigated in the paper. The modification of nanodiamind surface was done by dialkyl dithio phosphoric acid. The nanodiamond lubricating oil was made and the tribology nature was studied in experiment. In addition, the application of nanomond in antifriction composite coating wsa also studied.