Olive oil is an ancestral product widely recognized for its beneficial effects on human health. The daily intake of endogenous bioactive phenolic compounds from virgin olive oil is variable, due to the influence of multiple agronomic and technological factors. Thus, a good strategy to ensure optimal polyphenol intake from the usual diet would be to produce virgin olive oil enriched with well-known bioactive polyphenols. Over the last ten years, the development of a functional olive oil has gained considerable interest, using a variety of plant materials. The first part of this paper deals with generalities about the olive tree and olive oil, its composition and benefits, while the second details the various techniques used to achieve endogenous and exogenous enrichment. These enriched olive oils can help prevent chronic diseases, have high antioxidant activities, better oxidative stability and may have beneficial effects on human health.