There has been a demand for a lubricating oil composition that has excellent cooling performance and insulating properties. This lubricating oil composition contains a base oil (A), solid particles (B) that have an average primary particle diameter of 500 nm or less, and a dispersant (C); the content of the solid particles (B) is 0.1 to 30% by mass based on the total amount of the lubricating oil composition; and the content of the dispersant (C) is 0.1 to 20% by mass based on the total amount of the lubricating oil composition.