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Alzheimer’s disease (AD) is one of the most common neurodegenerative disorders. Nearly 44 million people across the globe are living with it. In spite of tremendous progress in understanding the pathophysiology of AD, only a few drugs have been approved by FDA to date that too provides only symptomatic relief. We have contemplated historical and religious backgrounds in addition to the literature review and concluded that polyphenolic natural products from olive oil can be used for the treatment of AD. The current computational study was designed to investigate the potential of phenolic metabolites present in olive oil to identify lead molecule(s) that could help in fighting against AD. A total of 21 phenolic compounds from olive oil were selected, and their SMILES notations were generated using Chemsketch. Cheminformatics software such as, Molinspiration to predict the bioactivity scores and physicochemical properties, PASS to predict the acetylcholinesterase (AChE) inhibition, neuroprotective, antioxidants, and anti-inflammatory activities; OSIRIS for pharmacokinetic profile and toxicity and Autodock Vina for molecular docking were used for in silico studies. The results were compared with four clinically used AD drugs. All the tested compounds were predicted to possess anti-inflammatory activity (0.357-0.831 Pa score) and antioxidant activity (0.320-0.903 Pa values), but none of the compounds was found to be a butyrylcholinesterase inhibitor. Out of 21 initial polyphenolic compounds, we selected the best two bioactive compounds, luteolin and elenolic acid, based on their bioactivity and toxicity profile. Luteolin showed the most stable binding to both beta-secretase- 1 (BACE) and AChE enzymes followed by elenolic acid. It is concluded that luteolin and elenolic acid are the most potent polyphenolic compounds of the olive, which act at multiple targets in AD pathogenesis. These compounds hold promise for the development of anti-Alzheimer's therapy.