Abstract: The present invention relates to a filter for removing particulate matter from a flow of lubricating oil. According to the present invention there is employed an inner and an outer generally cylindrical shaped container. The inner and outer containers are separated by flexible sealing members firmly attached to a top plate member of the inner container. A highly magnetized magnetic plate having a plurality of apertures, is firmly attached within the inner container. Oil flows through the magnetic apertures, and any particulate matter susceptible to a magnetic force is separated from the oil before its return flow to the engine.