Molybdenum-free lubricating compositions are provided, having an antioxidation additive composition based on a combination of (1) alkylated diphenylamine (APDA), (2) polyamine dispersant, and (3) monoglyceride, ethoxylated amide, or mixtures thereof. Further synergy is achieved when component (3) is borated, allowing a reduction in phosphorus levels to below 0.08% or even a phosphorus-free composition.