A bearing assembly comprising a centrifugal debris trap for removing contamination debris from lubrication fluid prior to lubrication of the bearing assembly components is provided. The centrifugal debris trap comprises an annular groove on an inner race such that with sufficient centrifugal force, contamination debris in the lubrication oil is forced into the groove and held there. Removal of contamination debris from the lubrication oil prevents damage to bearing balls and races of the bearing assembly, thus reducing bearing fatigue. A method for lubricating bearing assembly components using the bearing assembly of the present invention is also provided.