The present study aimed to the investigation of the feasibility of the combined biohydrogen and biopolymers production from OMW (Olive oil Mill Wastewater), using a two stage system. H(2) and volatile fatty acids (VFAs) were produced via anaerobic fermentation and subsequently the acidified wastewater was used as substrate for aerobic biodegradable polymer production. Two different bioreactors, one of CSTR type and a SBR were used for the anaerobic and the aerobic process respectively. The anaerobic reactor was operated at different hydraulic retention times (HRTs) with OMW, diluted 1:4 (v/v) with tap water, as feed. The main VFAs produced were acetate, butyrate and propionate, in different ratios depending on the HRT. Valerate, isovalerate and isobutyrate were also detected in small quantities. Selective effluents of the acidogenic/hydrogen producing reactor were subsequently used as feed for the aerobic reactor. The aerobic reactor was inoculated with an enriched PHAs producing bacteria culture, and was operated in sequential cycles of nitrogen offer (growth phase) and nitrogen limitation (PHAs accumulation phase). The operational program of the SBR was determined according to the results from batch test, and its performance was evaluated for a period of 100 days. During the accumulation phase butyrate was consumed preferably, indicating that the dominant PHA produced is polyhydroxybutyrate. The higher yield of PHAs observed was 8.94% (w/w) of dry biomass weight.