A lubrication monitoring device monitors a lubricating condition of a lubricator feeding an oil droplet at a predetermined time interval by means of a discharge nozzle having a nozzle orifice. The lubrication monitoring device comprises: a pair of electrodes disposed in the proximity of the nozzle orifice; a capacitance detecting portion for detecting the variation of capacitance between the pair of electrodes, the capacitance varying in conjunction with the varying amount of oil fed from the nozzle orifice to space between the pair of electrodes; and a determination portion for determining whether the oil droplet is fed at the predetermined time interval or not, the determination made based on the detection result supplied from the capacitance detecting portion.