Sulfur-, nitrogen-, and boron-modified alkylphenol additives for motor oils have been first produced by condensation of sulfurized alkylphenols with formaldehyde, alkanolamines, and boric acid followed by neutralization of the condensation products with calcium hydroxide. The structure of the resulting additives has been confirmed by IR spectroscopy. The functional properties of the additives in the composition of motor oils have been investigated. It has been found that they have high corrosion-preventing, antioxidant, and tribological properties and can be used as an additive for various motor oils. A lubricant composition M-14G(2) with high performance characteristics meeting the requirements of modern technology has been developed with the use of the additive IKhP-228.