Sliding bearings in mixed lubrication state are prone to wear due to deformation or misalignment under low-speed conditions. In order to analyze the influence of journal misalignment and wear on the mixed lubrication characteristics of sliding bearings, this study established a coupled model of average flow equation, G-T contact equation and Archard wear equation considering journal misalignment and elastic deformation. The bearing characteristic parameters and time-varying wear parameters under mixed lubrication were calculated by finite difference method and over-relaxation iteration method. The lubrication performance of bearings before and after journal misalignment or wear was compared, and the effect of roughness and boundary friction coefficient on various performance parameters was analyzed. A friction and wear test rig was built to test the lubrication characteristics of bearings in misaligned state, which verified the correctness of the theoretical model. The theoretical analysis and experimental results show that, when heavy load and large eccentricity occur, the bearing will change to mixed lubrication state. The greater the journal tilt, the more likely the bearing to have mixed lubrication. When the bearing is misaligned, the peak pressure and the shape of contact area will change, resulting in a difference in wear and the distribution of wear depth is tilted either axially or circumferential. The wear reduces the fluid hydrodynamic effect and decreases the film thickness ratio, leading to a decrease of about 20% in the hydrodynamic pressure peak, a decrease of about 90% in the contact pressure peak, and a maximum decrease of about 19.71% in bearing capacity. By comparing the bearing morphologies before and after wear, it finds that the journal tilts leads to that the wear concentrates on the end where the clearance reduces. This research provides theoretical basis for sliding bearing design in practical engineering.