PURPOSE: To prepare Ca-containing grease having excellent appearance and a good consistency yield, by saponifying a fat material with a Ca-consistency saponifying agent in a paraffinic hydrocarbon base oil in the presence of a polyhydric alcohol and an alicyclic carboxylic acid (or its alkaline earth metal salt).

CONSTITUTION: 70 a paraffinic hydrocarbon base oil having a viscosity index of 70 or more, 55% or more paraffin matter and viscosity of 8W850cst (at 40°C), 0.1W2wt% 2W500C polyhydric alcohol (e.g. ethylene glycol)(A) and 0.5W5wt% 4W60C alicyclic carboxylic acid or its alkaline earth metal salt (e.g. cyclopentane- carboxylic acicl)(B), based on the base oil, are added in a weight ratio of component A to component B of 1:2W10, and further 2W50wt% 10W30C bat material (e.g. coconut oil acid) and Ca-containing saponifying agent (e.g. CaO), based on the base oil, are added. The mixture is heated and saponified for 0.5W4hr at 80W 160°C and then the crystallization of the Ca soap is carried out at 80W110°C.