Simply, wipe any dirt, grime, and possibly pitch off the tool surfaces (you can use water or another solvent if it's really stubborn) and dry thoroughly. Mind the edges when you're doing do, both from rubbing too much grit in them an dulling them and being careful not to cut yourself.
After that, I use whatever oil is handy. Usually this is 3-in-1 oil, but occasionally paste wax, beeswax, air tool oil, boiled linseed oil, Boeshield, or even tallow of some sort find their way into being used. Just wipe on a thin layer and it should be ok.
Really all you want to do is put some sort of film that prevents oxidation of the surface rust, so any sort of hydrophobic material is adequate. Some may last longer than others (like the thick, goopy layer of cosmoline I've found on new old stock firearms compared to a coat of WD-40, but we all know which would be preferable for coating an often-used tool).