Traditional lubricants are undesirable in harsh aerospace environments and certain automotive applications. Ultrasonic vibrations can be used to reduce and modulate the effective friction coefficient between two sliding surfaces. This paper investigates the relationship between friction force reduction and wear reduction in ultrasonically lubricated surfaces. A pin-on-disc tribometer is modified through the addition of a piezoelectric transducer which vibrates the pin at 22 kHz in the direction perpendicular to the rotating disc surface. Friction and wear metrics including volume loss, surface roughness, friction forces and apparent stick-slip effects are measured without and with ultrasonic vibrations at three different sliding velocities. SEM imaging and 3D profilometry are used to characterize the wear surfaces and guide model development. Over the range of speeds considered, ultrasonic vibrations reduce the effective friction force up to 62% along with a wear reduction of up to 49%. A simple cube model previously developed to quantify friction force reduction is implemented which describes wear reduction within 15% of the experimental data.