Using lubricants in metal forming and drawing operations is important in reducing friction between the tool and formed metal interface ensuring production of sound quality component. The reduced wear on expensive production dies is crucial for their prolonged life. The ability to select well-suited forming lubricant in metal forming operations for Advance High Strength Steel (AHSS) has become a challenging task. The new performance-based steel grades offer high range of strength, thus pronounced forming challenge and defect as compared to conventional steel. During production, a good lubricant is one of the major forming parameters and should provide a constant film layer, which is vital for the quality of part produced. Considering similar forming conditions, a carefully comparison was made on the quality of various parts produced using different types of market available forming lubricants along, with a selected grade of AHSS. This review paper will help to demonstrate methodically and categorize the combination of a well-suited lubricant for a selected grade of AHSS. Lubrication has also the vital role on reducing the springback effects and drawn components defects. The secondary operations on formed part will depend on the quality of previously formed part which is dependent on forming lubricant properties, i.e., viscosity, pressure additive agent in the lubricant, temperature stability, and film stability.