Wear and corrosion are one of the main causes of material loss and equipment failure in mechanical equipment, especially under current-carrying friction conditions, which interact and exacerbate each other. Herein, a new ionic liquid additive (IL-16) was studied to simultaneously improve the anti-wear and anti-corrosion properties of steel-steel friction pair under conductive conditions. The coefficient of friction decreased by 58.8% at 1.6 wt% IL-16 content under the load current of 1.5A, the wear was reduced 10 times, and the contact resistance was only 37 mΩ, owing to the IL-16 ionic liquids additive forming a stable physical adsorption film on the surface of the friction pair to hinder the transfer of charges and products related to the corrosion reaction.