Thirteen exotic genotypes of olive (Olea europaea L.) were studied for the genetic variability, correlation and path coefficient analysis for fruit quality, yield and yield contributing traits at experimental farm of ICAR-CITH, Srinagar during 2009-2013. Maximum variability was recorded for fruit yield and oil content, however, low differ-ences between the phenotypic and genotypic coefficients of variations indicated low environmental influences on the expression of these characters. High heritability coupled with high genetic advance was obtained with fruit yield per plant, acidity, fruit pulp weight, fruit weight and stone weight. Fruit weight (r=0.329), stone weight (r=0.405) and oil content (r=0.841) were the most important traits, which possessed significant positive association with fruit yield per plant. Path coefficient analysis revealed that among the different yield contributing characters oil content (0.875), fruit weight (0.797) followed by acidity (0.501), peroxides value ( 0.199) and fruit length (0.054) influenced fruit yield per plant directly. The direct effects of these characters on fruit yield were found positive and considerably very high.The selection based on fruit weight, stone weight oil content and yield per plant will be effective for enhancing the fruit and oil yieldand making future olive breeding strategies.