Sulfurized phosphorous compounds, which are effective anti-wear, extreme pressure agents, may be formed without odor by reacting phosphorous compounds with other reactive sulfur sources, including elemental sulfur, before addition of polysulfides. The process of the present invention yields a lubricant additive package which is odor free or very low odor, thermally stable, and which contains polysulfides. Particularly useful embodiments of this invention include low odor gear lubricant additive packages.