Olive is located along the Mizpah River in the southeastern corner of the state. The Mizpah is a fork of the Powder River and its Biblical interpretation means 'lookout' or 'watch tower.' The river was named by Captain Williams Raynolds, who was surveying the northwest for possible U.S. Army wagon routes..
Olive is located in southeastern area of Montana, 10 miles north of Broadus on MT Highway 59.