The aim of the bachelor thesis is to highlight significant advantages in terms of increased production effectivity, costs reduction of lubricant, maintenance, reduction of friction and wear of machines due to application and correct use of systems for effective analysis of lubricating oils. The thesis is focused on ways to monitor condition of the machine without needing to disassemble or shutdown. Emphasis will be placed on anomalies such as premature machine wear, oil contamination by foreign particles or water, and also on ways how to achieve lower lubricant consumption thanks to a longer oil replacement interval. First part of the thesis deals with lubricants, tribology and its economic significance. Following part highlights the importance of creating a machine condition monitoring program and an effective lubricant analysis program. The final part of the thesis describes various methods of lubrication analysis and gives examples of their efficient use in technical practice.