The genus Olea contains the economically important European olive tree (Olea europaea L.). This species is also of chemotaxonomic interest because of the presence of various phenol-conjugated oleosidic secoiridoids or oleosides. The chemistry of these phenolic oleosides is diverse and complicated, and it is only in recent years that attention has been given to their biosynthesis and the biotransformations during the processing and storage of olive products. Many questions regarding these processes remain unanswered, and yet these have significant impact on the quality and value of olive products such as olive oil.