The influence of aerated oil on high-speed journal bearing Is examined by thermohydrodynamic lubrication theory to lubrication with mixtures of a Newtonian liquid and an ideal gas. For this purpose, analytical models for viscosity and density of aerated oil in fluid-film bearing are applied. Convection to the walls, mixing with supply oil and re-circulating oil, and some degree of journal misalignment are considered. The results show that deliberate oil aeration can increase the load capacity of high-speed plain Journal bearing. And the load capacity is increased more by oil aeration under the conditions of shaft misalignment and higher speed.