Aminated oilve oil derivative as the new organic disperse phases of the water soluble metal working fluid has been synthesized and tribological properties of the aqueous solutions composed of aminated olive oil derivative investigated using Four Ball Wear Tester and Falex EP Tester. The formulated aqueous solutions showed higher antiwear and extreme pressure properties and also lower friction coefficient. On the basis of the the results, water soluble aminated oilve oil derivative showed excellent tribological properties due to the polarizability of oleic acid derivative composed of majority part in oilve oil.