The invention relates to a compressed air lubricator comprising a casing (1) having a flow channel (2) for the compressed air and an oil container (3), whereby the flow channel (2) has a constriction (4) as well as at least one connection (6, 7) with the oil container (3) and an atomizer unit (8) connected to the constriction (4) is provided.In order to guarantee a constant conveyed oil quantity over a large range in terms of air flow and to provide a long transport length through a very fine oil mist, it is envisaged that the atomizer unit (8) arranged on the base of the oil container (3) and having outlet nozzles (15) for air and oil supply holes (16) is supplied with air via a tube (9) exiting from the flow channel (2) before its constriction (4), with a pipe (10) running from the atomizer unit (8) and opening into the constriction (4) for taking up and introducing the oil mist into the flow channel (2).