This study focuses on evaluating the characteristics of olive oil produced in the Taroudant province (southern Morocco), making this the first comprehensive study focusing on olive oil from the ‘Moroccan Picholine’ cultivar. Our objective was to elucidate the distinctive qualities of olive oil from this region, providing valuable insights into its potential contributions to the country’s olive oil sector. For this purpose, several quality criteria (free fatty acids, moisture content, saponification value, and iodine value), oxidation indices (peroxide value, specific UV extinction coefficients, and oxidizability value), and purity indices (fatty acids and sterol composition) were evaluated. Our results reveal minor-to-significant variations (p < 0.05) in the quality and oxidation parameters. Specifically, our results indicate diverse ranges for free fatty acids (0.33–3.62 g/100 g), peroxide values (0.85–4.01 mEq O2/kg oil), K232 (1.68 to 2.73), and K270 (0.09–0.34). Furthermore, consistently high levels of oleic acid (55.8 to 73.1%) and β-sitosterol (94.2 to 97%) were observed in the studied samples. These outcomes were confirmed through the use principal component analysis and hierarchical cluster analysis. Likewise, important correlations were outlined among the studied parameters. Multidimensional analyses not only highlight inherent variations, but also facilitate the classification of the analyzed olive oils into distinct categories. The results suggest that the Taroudant province exhibits favorable conditions for producing high-quality olive oil.