The mechanisms of antioxidant can be divided into the scavenging of free radicals by primary antioxidant and the reduction of hydroperoxides to alcohols by secondary antioxidant. In practical applications, the combined use of antioxidants with synergistic effects are prevailing in modern lubricants for economic benefits and environmental protection. In the paper, three types of antioxidant synergism including homosynergism, heterosynergism, and autosynergism are introduced as well as the performance of antioxidants in base oils and lubricants. At higher temperature, the amine antioxidant performs better than hindered phenol. However, the best antioxidant performance comes out with the combination of both even if the total dosage keeps the same, which is an application example of synergism.