Is olive oil a good lube? It turns out that Olive Oil is indeed a good alternative to a proper lube. Not only is it safe to use, as a lube it carries medicinal properties which aren’t there with other commercially available personal lubricants. Olive oil is great as a lube, the only turn down is, it cannot be used in combination with condoms. So our answer to “Is olive oil a good lube?” would have to be a “Yes, Olive oil, cold-pressed, virgin, can in-fact be healthy alternative to a lube.”