Abstract: The present application relates to biodegradable zero drip lubricating oil composition. The lubricating oil composition comprises a) an oil soluble polyalkylene glycol polymer; b) a vegetable base stock; and c) organic solvent excluding alcohol, wherein the oil soluble poly alkylene glycol and the vegetable base stock are present in a weight ratio from 1:2.6 to 1:8. The biodegradable lubricating oil compositions have high film strength, high load carrying capability, zero anti-drip property and maximum penetrability in the chain linkages, for application in roller chains and driving power trains having complex chain linkages.