Volatile and phenolic compositions of olive oil obtained from the cv. Halhali were investigated in the present study. Fruits were harvested at the optimum maturity stage of ripeness and immediately processed with cold press. Simultaneous distillation/extraction (SDE) with dichloromethane was applied to the analysis of volatile compounds of olive oil. Sensory analysis showed that the aromatic extract obtained by SDE was representative of olive oil odour. In the olive oil, 40 and 44 volatile components were identified and quantified in 2010 and 2012 year, respectively. The total amount of volatile compounds was 18,007 and 19,178 mu g kg(-1) for 2010 and 2012, respectively. Of these, 11 compounds in the 2010 and 12 in the 2012 harvest presented odour activity values (OAVs) greater than 1, with 1-octen-3-ol, ethyl-3-methyl butanoate, (E)-2-heptenal and (E,Z)-2,4-decadienal being those with the highest OAVs in olive oil. The high-performance liquid chromatographic method coupled with diode-array detection was used to identify and quantify phenolic compounds of the olive oil. A total of 14 phenolic compounds in both years were identified and quantified in olive oil. The major phenolic compounds that were identified in both years were hydroxytyrosol, tyrosol, elenolic acid, luteolin, and apigenin. Antioxidant activity of olive oil was measured using the DPPH and ABTS methods.