There is presented an effect of the changes of the concentration of magnetic particles included in the ferrooil on the dynamic viscosity in the presence of external magnetic field in this paper. The study was conducted in the context of temperature’s changes. In that way, the influence of external physical conditions of ferrooil’s employment was also taken into account. Ferrooil’s dynamic viscosity changes significantly alter the tribological properties and thus its usefulness as a lubricant of the sliding journal bearings. Due to the fact that the ferrooil demonstrates strong magnetic polarity in the presence of an external magnetic field, it is possible to control the viscosity by means of an external magnetic field just by changing the intensity as well as by changing of the concentration of magnetic particles.The paper presents, in the form of graphs, the changes of ferrooil’s dynamic viscosity as a function of temperature and concentration of magnetic particles. The results of research were also subjected to analysis.