With the continuous advancement of science and technology, tribological research has been rapidly developed, and some new lubrication fields have emerged one after another, accompanied by some new lubrication technologies and materials, so that the stability and service life of machinery are getting higher and higher. The stability of key lubricating parts such as bearings, gears, turbines, etc., in mechanical operation plays a decisive role in the long-term and reliable operation of equipment. The key technology to meet the long-term operation of lubricating parts lies in the quality of lubricating oil and excellent lubrication stability. The quality of base oil in fully formulated lubricating oil is fundamental. Lubricating additives have an important influence on the overall performance of lubricating oils. Anti-friction and anti-wear additives are the most important additives in lubricating oils. The research progress of organic friction-reduction and anti-wear additives commonly used in lubricants in the past 10 years was reviewed. According to the categories of friction-reduction and anti-wear additives, a detailed overview of phosphorus-based friction-reduction and anti-wear additives, sulfur-based friction-reduction and anti-wear additives, boron-based friction-reduction and anti-wear additives, nitrogen-containing heterocyclic compounds and their derivatives of friction-reduction and anti-wear additives and ionic liquid friction-reduction and anti-wear additives were described in detail, and the development status and friction-reduction and anti-wear mechanism were explored. Finally, the problems of the above-mentioned friction-reduction and anti-wear additives were briefly analyzed, and the future development trend was prospected. Moreover, some suggestions and opinions were put forward on the development trend and problems of friction-reduction and anti-wear additives.