Traditional olive orchards are usually not irrigated in the Mediterranean basin, but at those latitudes, the yearly rainfall is frequently insufficient to support equilibrated vegetative growth and high fruit and oil production. This three-year field study investigated the effect of complementary irrigation on olive tree vegetative growth, fruit and oil yield during a biennial alternate bearing cycle in a traditional grove under semi-arid conditions. Adult olive trees (Olea europaea L. cv. Nabali Baladi) were subjected to complementary irrigation in 2011 and 2012 ('on' and 'off' years, respectively) with 6, 10, 15 or 20 m3 of water per tree per season, which corresponded to 14.2%, 23.8%, 35.7% and 47.6% of the whole seasonal evapotranspiration (42 m3 of water per year), respectively. Rain-fed trees were used as control. In 2013, no complementary irrigation was supplied, and any residual effects on the yield components were determined. Results showed that none of the irrigation regimes affected vegetative growth, or olive fruit size (mesocarp and endocarp), as fresh and dry weights. The fruit and oil yield per tree increased compared to the rain-fed conditions only when the threshold of 15 m3 was exceeded, thus inducing a higher crop load compared to the rain-fed control during the 'off' and even further during the 'on' year. No residual effects were registered in 2013. The study showed that complementary irrigation of at least 35% of the seasonal water requirement can produce remarkable positive effects on fruit yield especially during 'on' bearing years.