Scenarios of large extra dimensions have enhanced the importance for the study of black holes in higher dimensions. In this paper, we analyze an axisymmetric system of two black holes. Specifically, the Bowen-York method is generalized for higher dimensions in order to calculate the initial data for head-on collision of two equal-mass black holes. Then, the initial data are evolved adopting the close-slow approximation to study gravitational waves emitted during the collision. We derive an empirical formula for radiation efficiency, which depends weakly on the dimensionality. Possible implications of our results for the black hole formation in particle colliders are discussed.