Used lubricating oil analysis programs are currently employed by both the military and industry in an attempt to minimize some of the costs associated with equipment failure. The periodic determination of water elements in the lubricant of an oil-wetted system can provide very useful information on the condition or health of the system and an early indication of impending failure. In the present study, the application of Neutron Activation Analysis (NAA) to used oil analysis was investigated. The method developed allowed for the determination of fifteen elements (Ag, Al, Cl, Cr, Cu, Fe, In, Mg, Mn, Mo, Na, Ni, Sn, Ti and Zn) associated with engine wear or deterioration. Results obtained for the analysis of used naval diesel oils exhibited good agreement with results obtained by Atomic Absorption Spectrophotometry (AAS) methods. A drawback of the NAA procedure is that the determination of Fe, a major wear element in most systems, involves an analysis time of approximately one week.