A torque limiter comprising an inner ring fitted inside an outer member; and a torque transmission member interposed between said inner ring and said outer member. A predetermined torque is generated by a friction generated between said inner ring and said torque transmission member, when said inner ring and said outer member rotate relatively to each other. The members are impregnated with lubricating oil to slide said members on each other. The lubricating oil contains a base oil consisting of synthetic saturated hydrocarbon oil having a kinematic viscosity of 500 to 1200 mm.sup.2/s at 40.degree. C. and an emulsifier added to said base oil. The lubricating grease contains the base oil consisting of the synthetic saturated hydrocarbon oil having a kinematic viscosity of 500 to 1200 mm.sup.2/s at 40.degree. C. and an emulsifier and a thickener both added to said base oil.