Abstract: Oxidation of lubricating oil is one of the most important factors that result in its invalidation. In this paper, progress in application of modern analysis and testing technology to oxidation of lubricating oil are reviewed from 1980's, including high-performance liquid chromatography, gas chromatography, gel permeation chromatography; thermal analysis, chemiluminescence and electrochemical technology. The direction of developing new analysis and testing technology for lubricant evaluation is also pointed out.