This review paper highlights the latest advancements in polymer films modified with olive leaf extract (OLE) for various applications, particularly in food packaging. The overview is focused on the preparation, properties, and multifunctionality of OLE-enhanced polymer materials. Olive leaf extract, known for its antibacterial, antifungal, and antioxidant properties, is also shown to enhance the physicochemical characteristics of polymer films. This review consolidates current knowledge on using OLE as a bioactive additive in polymer-based packaging materials, improving their structural integrity and functionality. In addition to food packaging, the review explores other applications of OLE-modified polymer films in industries such as biomedicine, pharmaceuticals, and cosmetics. The paper also addresses future perspectives in polymer food packaging, suggesting that OLE-modified films offer significant potential for industrial and academic research due to their enhanced properties. Overall, this review provides a comprehensive overview of the role of olive leaf extract in improving the performance of polymer films in diverse fields.