To provide a lubricating device for a rolling mill which can be set in a small space, can lubricate a bearing and a gear, and can lubricate even at a high rotation.

The lubricating device comprises a bearing nozzle ring 20 which is attached to a roll shaft 5 and has a nozzle facing the bearing 4 and ejecting oil air and a gear nozzle 30 which is attached to a housing 8, faces a roll driving gear 3 and ejects oil air. The bearing nozzle ring 20 is arranged between two bearings 4 for supporting both the end parts of a roll holder 2 and comprises two annular nozzles 22 formed in both the end parts of a ring body 21 and having an annular oil air sump and an appropriate number of injection nozzle holes 24 formed in the annular nozzles 22 and ejecting oil air to the side surface of the bearing 4. The nozzle 30 has a nozzle hole 24 for ejecting oil air to a tooth flank on a front side in a rotational direction.