There is disclosed a lubricating oil for compression-type refrigerators comprising a polyvinyl ether compound which contains a constituting unit represented by the general formula (I), a polyvinyl ether compound which contains constituting units represented by each one of the general formulae (I) and (II), or a mixture of these polyvinyl ether compounds, as the main component thereof. Ratio by mol of carbon to oxygen in the above polyvinyl ether compounds is 4.2 to 7.0. Also disclosed is a lubricating oil for compression-type refrigerators comprising a polyvinyl ether compound containing constituting units which are both represented by the general formula (I) but between which R.sup.5 is different. The lubricating oil for compression-type refrigerators has excellent compatibility with hydrofluorocarbons, such as 1,1,1,2-tetrafluoroethane, and hydrochlorofluorocarbons which can be used as the refrigerant to replace compounds causing environmental pollution such as dichlorodifluoromethane, shows low hygroscopicity, and exhibits superior stability and lubricating property. ##STR1##