Olof \o-lof\ as a boy's name is a variant of Olaf (Old Norse), and the meaning of Olof is "ancestor's relic".

The baby name Olof sounds like Elof and Olov. Other similar baby names are Alf, Aluf, Alouf, Eluf, Elov, Odolf, Olle, Olin, Ole, Olav, Olaff, Ola, Oleg, Olyn, Olen and Ulf.