Olive oil. Bottle of olives and olive oil. Olives are the fruit of the olive tree (Olea europaea) and are a good source of HDL (high- density lipoprotein), a form of cholesterol. HDL is known as good" cholesterol as it removes LDLs (low- density lipoproteins) from the bloodstream. The LDL cholesterols have been implicated in heart disease and blocked arteries."