An exemplary lubricated hot rolling method is provided which can use a lubricating oil containing, e.g., one or more kinds among an high-basic alkaline-earth metal phenate, high-basic alkaline-earth metal carboxylate, high-basic alkaline-earth salicylate, or high-basic alkaline-earth metal sulfonate having a basicity of 40 mgKOH/g or higher, and has a viscosity at 40.degree. C. of 800 cSt or less. The rolling can be performed by granulating or atomizing the lubricating oil into particulates whose average size is less than 1 mm, supplying the lubricating oil to rolls by using a noncombustible gas whose flow rate is 2000 cm.sup.3 or more per minute per lubricating nozzle. The velocity of the oil may be 1 m or more per second. The amount supplied of the lubricating oil can be controlled to 0.01 cm.sup.3 or more and 20 cm.sup.3 or less per 1 m.sup.2 of a surface area of the rolls.