A simple but realistic dynamic friction model for the lubricated sliding contact is developed based on decoupling the steady and unsteady terms in Reynolds equation. The model realistically captures the physics of friction behavior both when speed is increased unidirectionally or when operating under oscillating condition. The model can simulate the transition from boundary to mixed to full film regimes as the speed is increased. Two different classes of simulations are performed to show the utility of the model: the so-called quasisteady, where the sliding velocity is varied very slowly, and the oscillating sliding velocity, where the friction coefficient exhibits a hysteresis type behavior. Both categories of simulation are verified by comparing the results with published experimental data.