Leaves and fruits of Olea europaea L. (olive) have been used externally as an emollient for skin ulcers and for healing of inflammatory wounds. n-Hexane and aqueous extracts, prepared from the dried leaves of olive, were evaluated for their wound healing activity by using in vivo wound models of linear incision and circular excision in comparison with the reference ointment Madecassol® (Bayer, Istanbul, Turkey). The group of animals treated with the aqueous extract demonstrated increased contraction (87.1%) on excision and a significant increase in wound tensile strength (34.8%) on incision models compared to the other groups. Moreover, the antioxidant activity assay showed that aqueous extract has higher scavenging ability than the n-hexane extract. According to the experimental data, the aqueous extract of O. europaea leaves displayed wound healing activity. Secoiridoid oleuropein (4.6059%) was identified as the major active compound according to high-performance liquid chromatography analysis of the aqueous extract.