The deterioration of the friction reducing properties of engine oils containing molybdenum dithiocarbamates (MoDTCs) in service was studied. A quantitative analysis of MoDTCs and zinc dithiophosphates (ZDTPs) remaining in aged oils revealed that ZDTPs were consumed faster than MoDTCs. The consumption rate of ZDTPs was slow in the presence of MoDTCs and peroxide-decomposing antioxidants. The frictional properties of aged oils were evaluated with a reciprocating friction tester (SRV tester). The friction coefficient measured with the SRV tester was correlated to the properties of the aged oils, such as the TAN increase, TBN, and concentration of remaining ZDTPs.