Fluid property sensor (FPS) based on tuning-fork technology is applied to the measurement of the contaminant level of lubricant oil. The measuring principle of FPS sensor is derived and proved together with its resolution. The performance characteristics of the FPS sensor, such as sensitivity coefficient, resolution, and quality factor, are analyzed. A temperature compensation method is proposed to eliminate the temperature-dependence of the measuring parameters, and its validity is investigated by numerical simulation of sensitivity, oscillating frequency, and dielectric constant. The values of purification efficiency obtained using microwave and without microwave are compared experimentally.