Fruits of five different varieties of Olea europea were taken from the farms cultivated in Pothohar region of Pakistan. Oils were extracted using cold press technique. Different colored oils were obtained in different yields. Physicochemical parameters were carried out by American Oil Chemists Society (AOCS) official methods. Fatty acid profiles were calculated by gas chromatograph equipped with flame ionization detector, after methanolic esterification of olive oils. The most abundant of the fatty acids was oleic acid (62.1-70.15%). The yield percentages (15.3-17.7%), moisture contents (0.4-0.73%), refractive indices (1.4689-1.4691 at 20ºC, 1.4613-1.4615 at 40ºC, 1.4537-1.4540 at 60ºC), saponification value (188-191 mg KOH/g), colors measured by Lovibond tintometer (20Y/2-6 R), acid value (0.17-0.44 mg KOH/g), peroxide value (7.83-17.75 meq/Kg), free fatty acid value (0.08-0.22), iodine value (87-92) were determined. Olive cultivars from Pothohar region indicated very close characteristics to the standard olive oil recommended by International Olive Oil Council (IOOC). Characterized local olive cultivars can contribute as an import substitute of edible oil and a lot of foreign exchange can be saved, as well as lot can be earned by exporting it.