Olive Oil will solidify or crystalize when refrigerated or frozen. The actual solidifying point of olive oil depends on the grade of oil, but it is generally thought to be around 37° F. Because olive oil is made up of a combination of both waxes and water, and it is a natural product that changes from harvest to harvest, the actual solidifying point will not be constant. The solidifying process doesn’t harm the quality of the olive oil; in fact, it can extend its shelf life. It is a myth that the solidifying point of olive oil can be used to predict quality.