Due to the growing up demand for fossil fuels and increases in the concerns about fossil fuel depilation which is considered the major source of lubrication. Biolubricants are an alternative solution for conventional oil to face the dangers of fossil fuel depletion. In internal combustion engines, Lubrication processes play a vital role due to the significant number of moving parts inside it. The primary function of Lubricants is to prevent friction generated between two moving parts and make the working of machines smooth. Biolubricants are renewable, biodegradable, have good tribological behaviors, are nontoxic, zero-emission for greenhouse gases, are non-hazardous, have low volatility, and are inexpensive. All these advantages of Biolubricants, yet their use as lubricants are constrained because it suffers from low oxidative stability. Therefore, various chemical modifications must be done on Biolubricants to reach the proper lubricant properties. These chemical modifications improved the thermo-oxidative stabilities of the Biolubricants, thereby enhancing the quality of biolubricants. This study reviews the physicochemical properties of Palm oil and summarized the chemical modifications of the Palm oil and sheds light on the tribological behavior of palm oil as a lubricant in internal combustion engines and its function to reduce the friction between the moving parts.