There are provided a highly durable and efficient refrigerating apparatus and a lubricating oil composition that uses an HFC type refrigerant and is still free from the problem of thermal hydrolysis of polyol-ester type oil and resulting generation of carboxylic acid and sludge so that the refrigerating apparatus and the lubricating oil composition may be used stably for a prolonged period of time. A lubricating oil composition according to the invention comprises as base oil components a polyol-ester type oil formed by reacting specific polyhydric alcohol with a fatty acid, to which tricresylphosphate and epoxy compound comprising glycidyl ether or carbodiimide are added at respective specific rates. A refrigerating apparatus according to the invention uses such a lubricating oil composition as refrigerator oil and comprises a sealed electric driving compressor whose sliding members are made of a material selected from iron type materials, composite materials of aluminum and carbon, iron type materials surface-treated with chromium nitride and ceramic materials.