The beneficial effect on lubrication achieved through microtexturing by laser ablation was investigated. The investigation was based on two independent experimental approaches with oil-lubricated smooth and laser-textured steel surfaces in oscillating sliding contact with a steel ball. Two types of laser-textured patterns of microcavities were studied. It was found that, in comparison with smooth steel surfaces, the laser texturing significantly reduces friction and wear. The most significant improvement in the tribological performance was achieved with an oil of high viscosity combined with a texture comprising a low density of deep microcavities.