A lubricating oil composition comprising: (A) a low viscosity component having a kinematic viscosity at 100°C of greater than 4 mm 2 /s and less than 20 mm 2 /s which is a lubricant base oil including at least one type selected from mineral oil, PAO, and GTL (gas-to-liquid) base oils; (B) an amount of from 7 to 30% by weight relative to the overall weight of the lubricating oil composition of a high viscosity component having a kinematic viscosity at 100°C of from 40 to 1000 mm 2 /s which high viscosity component is a polyalkylene glycol having a structure obtained by independently subjecting propylene oxide to addition polymerization with an alcohol or a structure obtained by subjecting a combination of propylene oxide with ethylene oxide and/or butylene oxide to addition polymerization with an alcohol, and being configured so that the polyalkylene glycol (PAG) has an oxygen/carbon weight ratio of 0.35 or more and less than 0.45 measured in accordance with JPI-5S-65 and JPI-5S-68, wherein, optionally one or both terminal hydroxyl groups in the polyalkylene glycol (PAG) are blocked with a blocking group having a molecular weight of 200 or less composed of at least one selected from C, N, O, S and H and wherein the blocking groups are not included in the calculation of the oxygen/carbon weight ratio; and (C) from 3 to 55% by weight relative to the overall weight of the lubricating oil composition of a fatty acid ester having an oxygen/carbon weight ratio of 0.05 to 0.35, wherein the lubricating oil composition transitions between a one-layer state and a two-layer state at a temperature in the range of from 40 to 100°C. (A) a low viscosity component having a kinematic viscosity at 100°C of greater than 4 mm 2 /s and less than 20 mm 2 /s which is a lubricant base oil including at least one type selected from mineral oil, PAO, and GTL (gas-to-liquid) base oils; (B) an amount of from 7 to 30% by weight relative to the overall weight of the lubricating oil composition of a high viscosity component having a kinematic viscosity at 100°C of from 40 to 1000 mm 2 /s which high viscosity component is a polyalkylene glycol having a structure obtained by independently subjecting propylene oxide to addition polymerization with an alcohol or a structure obtained by subjecting a combination of propylene oxide with ethylene oxide and/or butylene oxide to addition polymerization with an alcohol, and being configured so that the polyalkylene glycol (PAG) has an oxygen/carbon weight ratio of 0.35 or more and less than 0.45 measured in accordance with JPI-5S-65 and JPI-5S-68, wherein, optionally one or both terminal hydroxyl groups in the polyalkylene glycol (PAG) are blocked with a blocking group having a molecular weight of 200 or less composed of at least one selected from C, N, O, S and H and wherein the blocking groups are not included in the calculation of the oxygen/carbon weight ratio; and (C) from 3 to 55% by weight relative to the overall weight of the lubricating oil composition of a fatty acid ester having an oxygen/carbon weight ratio of 0.05 to 0.35, wherein the lubricating oil composition transitions between a one-layer state and a two-layer state at a temperature in the range of from 40 to 100°C. <EOS>