With the development of high speed cutting technology,oil-air lubrication technology has been widely applied in high speed rolling bearing of high-speed machine tool or grinder.The research progress and application status of oil-air lubrication system for high speed rolling bearing in recent years at home and abroad was reviewed.The research achievements including the oil-air lubrication system composition and performance,the formation mechanism of oil-air two-phase flow,the lubrication state,research and development of key parts and the application of oil-air lubrication system were summarized.The design difficult points of oil-air lubrication system were analyzed,and the development tendencies of oil-air lubrication system were proposed.