The present invention relates to a lubricating oil composition having improved fuel saving properties and also having excellent metal fatigue prevention properties and heat resistance and thus provides a lubricating oil composition for transmissions comprising: a lubricating base oil comprising (A) a mineral base oil having a 100°C kinematic viscosity of 1. 5 mm 2 /s or higher and 3.5 mm 2 /s or lower, a pour point of -25°C or lower, a viscosity index of 105 or greater, a %C P of 85 or greater, a %can of 2 or greater and 20 or less and a %C A of 3 or less in an amount of 50 to 97 percent by mass on the total base oil composition mass basis and (B) a monoester-based base oil having a 100°C kinematic viscosity of 2 to 10 mm 2 /s in an amount of 3 to 10 percent by mass on the total base oil composition mass basis; (C) a phosphorus acid ester in such an amount that the phosphorus content of the composition is from 250 to 350 ppm by mass on the phosphorus basis; and (D) a boronated ashless dispersant in an amount of 30 to 120 ppm by mass on the boron basis on the total lubricating oil composition mass basis, the ratio of the mass percent of boron to the mass percent of phosphorus in the composition (B/P) being from 0.07 to 0.42 and the composition having a 100°C kinematic viscosity of 2.5 to 4.0 mm 2 /s.