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Olive oil is a nutrient-packed oil made from pressing olives and then expressing their oil. It is rich in healthy monounsaturated fats and antioxidants, which may benefit the skin when applied directly to it. Moisturizes the skin: Olive oil contains squalene and vitamin E. Squalene supports the skin’s moisture retention, whereas vitamin E increases the skin's capacity to absorb and retain water.Reduces the signs of aging: Olive oil is rich in antioxidants. These compounds can combat oxidative stress, which is associated with skin aging. They can also increase collagen in the skin.Helps cleanse the skin: Because like attracts like, olive oil can be used to dissolve oily residue on the skin. That said, it can be used to remove certain types of makeup—particularly waterproof products.