This invention relates to carbon-based materials as anti-friction and anti-wear additives for advanced lubrication purposes. The materials have various shapes, sizes, and structures and are synthesized by autogenic reactions under extreme conditions of high temperature and pressure. The lubricant compositions comprise carbon-based particles suspended in a liquid hydrocarbon carrier. Optionally, the compositions further comprise a surfactant (e.g., to aid in dispersion of the carbon particles). Specifically, the novel lubricants have the ability to significantly lower friction and wear, which translates into improved fuel economies and longer durability of mechanical devices and engines.