The aim of the present review is to present some methods for the quality evaluation and mainly to describe new trends in the analysis of triacylglycerols, phenolic and flavor compounds of olive oil. Thus, methods used to determine the olive oil quality and its resistance to oxidative deterioration, mainly the conductivity ones, are included. Concerning the new trends in olive oil analysis, methods such as nuclear magnetic resonance spectroscopy, Fourier-transform infrared techniques, differential scanning calorimetry, atmospheric pressure chemical ionization-mass spectroscopy, solid-phase micro extraction using nonpolar and bipolar fibers and some others, are described. Since proper packaging of olive oil provides conditions to assure adequate product life destination and marketing, a presentation of the packaging material, packaging to oil interactions and some other packaging issues are also pointed out.