Rolling bearings are assorted one of the most important machine elements. The various functions of bearings are greatly influenced by grease, and higher performance of rolling bearing greases is required to improve rolling bearing lubrication. The two conditions for optimum grease synthesis were selected by SSRED (Six Sigma Robust Engineering Design) program by using dropping points and OIT values respectively. And the optimized two urea/ether oil greases were synthesized to compare the performance. The typical physical properties of grease were investigated. And life test of these greases was conducted by rolling bearing grease life tester. The characteristics of the greases before and after life test were investigated using FTIR, microscope, SEM, TG/DSC, OIT and TAN meter. The optimized two greases showed longer life time than typical urea/ether oil grease. The optimized grease by means of OIT value showed higher performance such as long life time, low TAN value and high oil bleeding amount in comparison with the optimized grease using dropping point.