This study evaluates the effect of grooves on the stem part of a plunger on the lubrication characteristics of a fuel injection pump (FIP) by using hydrodynamic lubrication analysis. The current study uses the two-dimensional Reynolds equation to evaluate the changes in lubrication characteristics with variations in clearance, viscosity, and grooves for a laminar, incompressible, and unsteady state flow. This study investigates the lubrication characteristics by comparing the dimensionless minimum film thickness or the film parameter, which is the ratio of the minimum film thickness to surface roughness. The analysis method for the groove section differs depending on the depth of the groove. For instance, in the case of a shallow groove, the film thickness equation considers the depth of the groove, while in the case of a deep grove, it considers the flow continuity. The lubrication characteristics of the FIP are more sensitive to changes in the groove width than to changes in other design variables. Moreover, the application of a groove is more effective under low viscosity conditions. The smaller the distance from the edge of the stem part to the first groove in the case of shallow grooves, the better are the lubrication characteristics of the FIP. In contrast, in the case of deep grooves, the lubrication characteristics of the FIP improve as the distance increases. The application of shallow grooves is more effective for improving the lubrication characteristics than the application of deep grooves.