An apparatus for measuring oil oxidation was developed, which is capable of being mounted to mechanical devices for detecting power of fluorescent light reflected from oil in real time as an indication of the oil oxidation. This device has an advantage over conventional fluorescence spectrometers where the thin film is required for the measurement. Clean and used oil samples (mineral and synthetic oils) were tested by the developed apparatus that calculates a fluorescence quantum yield and a light absorption coefficient of the oil based upon the signals from the two light-receiving members and evaluates the degree of oil oxidation of test oils based on the fluorescence quantum yield. Results generally show that the developed device is able to effectively evaluate oil oxidation characteristics on-site in the field.