Olive (Olea europaea L.) is one of the main agricultural crops of the Mediterranean area. It has been discovered that apart from oil, olive leaves are also a rich source of components with pharmacological effect. In this paper the composition of essential oils and hydrolates was observed in different life stages of olive. By aqueous distillation in Clevenger's apparatus, essential oils and hydrolates were isolated from several olive leaf samples and identified by GC/MS analysis. In the first sample of essential oil the most common compound was β-ionone (20.4%), in second germacrene D (31.2%), in third endo-fenchyl acetate (12.7%), in fourth docosane (40.1%), in fifth n-dodecanol (30.6 %) and in sixth caryophyllene oxide (17.1%). In hydrolates the most common compound in most of the samples was β-ionone: in first sample in the amount of 15.9%, in second sample in the amount of 40.3%, in third sample in the amount of 42.8%; in fourth sample the most common component was bicyclogermacrene (39.5%), in fifth ß-ionone (25.3%) and in sixth myristicin (35%). The compounds that were isolated from all of the samples, either from essential oil or hydrolate, were: α-pinene, ß-caryophyllene, α-humulene, allo-aromadendrene, ß-ionone, myristicin, palmitic acid, oleic acid and docosane, tricosane and tetracosane.