Olley \o(l)-ley\ as a boy's name is a variant of Oliver (Latin), and the meaning of Olley is "olive tree".

The baby name Olley sounds like Alley and Olle. Other similar baby names are Baley, Caley, Coley, Colley, Culley, Daley, Gilley, Haley, Halley, Owney, Juley, Kaley, Kelley, Kiley, Oakley, Ole, Oleg, Olen, Ollie, Paley, Riley, Roley, Ryley, Sulley, Tulley, Wiley and Willey.