This study examined the effects of lubricant viscosity and metallic content on the oxidation reactivity of diesel particles. In the first part, the factors affecting thermogravimetric analysis (TGA) experiments was discussed and confirmed. The influences of initial soot mass, heating rate, and airflow rate on soot oxidation rate and experimental reproducibility were investigated to develop an optimized TGA method. On the basis of these experiments, an initial soot mass of 2.0 mg, airflow rate of 4.8 L/h, and heating rate of 2.5°C/h were used for all subsequent TGA tests. It could be found that the TGA experiments had high repeatability, and the differences were less than 0.1%. In the second part, a four-cylinder diesel engine was lubricated with seven kinds of lubricant with different viscosity and metallic content by the use of viscosity index improver (VII), antioxidant and corrosion inhibitor (ACI), and ashless dispersant (AD). Particle samples were subjected to TGA to test their