Wheel bearings play a crucial role in ensuring the smooth and reliable rotation of wheels in automotive applications. Grease is commonly used as a lubricant in wheel bearings. The physical properties of grease, such as viscosity, base oil type, and thickener composition, significantly influence the overall performance and longevity of wheel bearings. This study investigates the impact of grease's physical properties on wheel bearing friction torque and service life. To evaluate the effects of different grease formulations, a series of experiments were conducted using a four-ball tester, rheometer, and a custom-built test rig to measure bearing frictional torque and service life. Multiple greases with varying viscosity grades, base oil types (mineral oil, synthetic oil), and thickener compositions (lithium, diurea, and polyurea) were tested under controlled operating conditions. Friction torque measurements were obtained using a high-accuracy torque sensor, while service life was determined by monitoring the bearing life in actual endurance testing. The results indicated that grease physical properties directly affected wheel bearing friction torque and service life. Low to Medium-viscosity greases generally exhibited 35–40% lower friction torque due to enhanced lubrication film formation and reduced metal-to-metal contact however, excessively high viscosity resulted in 50–60% higher frictional torque and thereby increased energy consumption. Different base oil types showed varying friction reduction and service life level, with mineral oil in some cases showed lower frictional torque around 30–40% particularly at high temperature but with significant reduction in the service life. Furthermore, the thickener composition significantly influenced grease performance. Based on these findings, selecting the appropriate grease with optimal physical properties is crucial for minimizing friction torque and extending the service life of wheel bearings.