The present invention provides lubricating grease which is excellent in durability at a high temperature, restrains a reaction from occurring between fluorine and steel, and has a long life; and a rolling bearing in which the lubricating grease is enclosed. The lubricating grease contains perfluoropolyether oil as a base oil thereof and fluorocarbon resin powder as a thickener thereof. The lubricating grease further contains an additive containing a substance capable of forming a film on a metal surface. The substance is a diurea compound having an —NH— bond in a molecular structure thereof, an organic-acid metal salt such as sodium sebacate, molybdate such as potassium molybdate or sodium molybdate, or a bismuth-containing compound such as bismuth sulfate. The rolling bearing has an inner ring and an outer ring disposed concentrically with each other, a plurality of rolling elements interposed between the inner ring and the outer ring, and a retainer dividedly holding the rolling elements. The lubricating grease is enclosed on the periphery of the rolling elements.