This article proposes using the Arrhenius model for estimating the viscosity of a mixture of two liquids in the quantitative assessment of the physicochemical properties of lubricating oils in the context of assessing the level of dilution of lubricating oil with diesel oil. Dynamic are made of mixtures of lubricating oil and diesel oil with known concentrations of 0, 1, 2, 5, 10, 20, 50, and 100% m/m of the diesel oil content in the mixture. Mixtures of the most popular oils (viscosity classes SAE 30 and SAE 40) with diesel oil that meet the requirements of the DMX of the marine distillate fuels category are prepared and tested. Viscosity measurements are performed at 40, 50, 60, 70, 80, 90, and 100 °C temperatures. The Arrhenius model is used to estimate the viscosity of the mixtures with an assumed diesel oil content and to estimate the diesel oil concentration in the mixtures with a known measured viscosity value. In both cases, the absolute estimation error is determined, and the accuracy of the estimation is assessed against the known concentration of diesel oil in the mixture with lubricating oil and the temperature at which the viscosity is measured. The estimated concentrations of diesel oil in mixtures with lubricating oil are useful to assess the condition of the lubricating oil (for concentrations of diesel oil lower than 5% m/m). The method is proposed to be used in practice to support standard laboratory oil analysis.