A lubricating oil composition, which comprises a perfluoropolyether base oil, and a fluorine-containing polyether diphosphonic acid ester, represented by the following general formula: (R2O)(R1O)P(O)(CH2)aCF(CF3) [OCF2CF(CF3)]bO(CF2)cO [CF(CF3)CF2O]dCF(CF3)(CH2)eP(O)(OR3)(OR4) (where R1, R2, R3, and R4 are hydrogen atoms, alkyl groups, cycloalkyl groups, aryl groups, alkylaryl groups, aralkyl groups, or any of the foregoing groups can be halogen atom-substituted groups, subscripts a, b, c, d, and e are in conditions of 2≦a+e≦8, b+d≦28, and 1≦c≦10, and b and d can be 0), and a grease composition which further contains a thickening agent in addition to the lubricating oil composition, have distinguished abrasion resistance and rust preventiveness without deteriorating the heat resistance inherent in the lubricating oil and the grease containing a perfluoropolyether oil as a base oil.