To evaluate the anti-micro-pitting performances of three extreme pressure & antiwear (EP&AW) additives containing phosphorus, MPR tests which can simulate the micro-pitting conditions were conducted. Meanwhile, four-ball tribometer, copper corrosion tester, baking oven and lubricating film thickness meter were used to study the other performances of tribology, anti-corrosion, antioxidant and lubricating film. Moreover, mechanism of anti-micro-pitting was investigated in detail. The oil with dispersed phosphorus and nitrogen EP&AW additive can show the best overall performance. After 9 hours MPR test of the oil added with dispersed phosphorus and nitrogen EP&AW additive, change rate of MPR roll track width is 35.87%. With four-ball tribometer test of this oil, maximum non-seizure load of 1441.6 N is obtained, and its relevant wear diameter of ball is 0.38 mm. When test load of four-ball test is bigger than 294 N, friction coefficient of the oil with dispersed phosphorus and nitrogen EP&AW additive is the smallest. Moreover, anticorrosion and antioxidant performance of this oil is good, copper corrosion grade is 1b, and steel disc grade is 1 score with no oil sludge. The oil with dispersed phosphorus and nitrogen EP&AW additive can form lubricating film with thickness of 371.2~153.6 nm when temperature is 60~120 ℃. The dispersed phosphorus and nitrogen EP&AW additive possesses moderate chemical activity and shows the best overall performances.