Provided is a lubricating oil composition containing a base oil which includes a mineral oil and/or a synthetic oil, and compounded therein, (A) at least one phosphorus-containing compound selected from phosphoric acid monoesters, phosphoric acid diesters and phosphorous acid monoesters, each having a C1 to C8 hydrocarbon group or groups and (B) a tertiary amine compound having C6 to C10 hydrocarbon groups as substituents thereof. The lubricating oil composition provides both a high metal to metal friction coefficient and an excellent wear resistance and is suitably used in a continuously variable transmission.