Taking into account the environmental awareness and ever-growing restrictive regulations over contamination, the study of new lubricants or lubricant additives with high performance and low toxicity over the traditional lubes to reduce the negative impact on the environment is needed. In this chapter, the current literature on the use of ionic liquids, particularly protic ionic liquids, as high-performance lubricants and lubricant additives to different types of base lubricants are reviewed and described. The relation between ionic liquids structures and their physicochemical properties, such as viscosity, thermal stability, corrosion behavior, biodegradability, and toxicity, is elaborated. Friction reduction and wear protection mechanisms of the ionic liquids are discussed with relation to their molecular structures and physicochemical properties.