On the west side of Old Jewry, in Coleman Street Ward, on the boundary of Coleman Street and Cheap Wards (O.S.).
The parish extends into Cheap Ward.
Earliest mention found in records: " St. Olave in the Jewry." In an Inquisition relating to the church in 1181 (H. MSS. Com. 9th Rep. p.68).
St. Olave's is mentioned in a MS. c. 1130 relating to lands of the church of St. Paul amongst the MSS. of the Dean and Chapter. From the context it appears to be the Church of St. Olave, Old Jewry.
Other names and forms: "S. Olave in Colchirchiane," 1293-4 (Ct. H.W. I. 113). St.Olave Upwelle in the Jewry," 16 Ed. II. 1323 (Cal. P.R. Ed. II. 1321-4, p.302). "S. Olave en la Oldeiuwerie, 1327-8 (Ct. H.W. I. 329). " S. Olave Eldiurie," 1381 (Ct. H.W. I. p.225).
The Chapel of St. Stephen was annexed to St. Olave 1399 and a new aisle added to the church by T. Morsted, 1436 (S. 283).
Repaired in 1608 and again 1628.
Burnt in the Fire 1666 and rebuilt of freestone 1673-6, with churchyard adjoining on the south side.
Restored 1874 (Strype, Ed. 1720, I. iii. 57).
A Rectory and afterwards a Vicarage. Patron: The Canons of St. Paul's and afterwards the Priory of Butley. After the dissolution of the monasteries the patronage passed to the Crown, in whose hands it remained.
After the Fire the parishes of St. Martin Ironmonger Lane, St. Mary Colechurch and St. Mildred Poultry were united to it.
Removed 1888-9, and the parish united to St. Margaret Lothbury under the Bishop of London's Union of Benefices Act.
Strype says there was a well under the east end of the church lately turned to a pump but decayed 1320 (ib.). Perhaps this was the origin of the name" Upwelle." The Jewry was of course the Jewish quarter in early times.
The remains of a Roman pavement, vases, etc., were found in the course of demolishing this church.