Lithium dual complex grease was prepared through the second continuous saponification reaction of a complex gellant system whose essential components comprised of a selected hydroxy fatty acid, lithium hydroxide monohydrate and boric acid to have a fiber structure of chemical, thermal and mechanical stability at high temperatures. An optimum amount of complex gellant was found to be 14% (NLGI #2), and an addition of castor wax of 1.5% provided an excellent performance properties, especially. The oil separation, oxidation stability, water wash-out property, shear stability, extreme pressure and wear property of thus prepared were tested by the ASTM and KS methods, and a characteristic result was obtained.