A lubricating grease is provided which is excellent in durability at high temperatures, inhibits the reaction 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, a diurea compound having an —NH— bond in the molecular structure thereof, an organic-acid metal salt 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.