A lubricating system has been disclosed for gear mechanisms or generators, in particular for gear mechanisms of wind power plants, which lubricating system permits a switchover between dry sump lubrication and wet sump lubrication. This takes place by way of a delivery device which increases the pressure in a lubricant tank selectively or in an emergency, for example a power outage, and presses a lubricant back into an oil sump in the gear mechanism, whereupon a lubricant level is increased there and wet sump lubrication is realized. The delivery device can have a compressor. Said compressor can charge a pressure accumulator via a non-return valve or can increase the pressure in the lubricant tank directly. The delivery device can consist of hydraulic, pneumatic or else electrical components. If it is pneumatic, it can be separated from the hydraulic lubricating system via an elbow.