The invention provides a metalworking oil composition which is used for a very small amount of oil-feeding type metalworking method, said composition comprising a base oil selected from the group consisting of natural fats and oils, derivatives thereof and synthetic ester oils; and an antirust agent comprising a sorbitan fatty acid ester and a phospholipid, and a metalworking method using the composition and metalwork obtained by the metalworking method. The oil composition shows excellent lubricity and antirust property and is suitably used for metalworking of metallic materials such as cast iron, steel, stainless steel, and nonferrous metal (such as Al alloy and Mg alloy) by a method in which a very small amount of oil is supplied.