The objective of the current work is the investigation of the current utilization of olive tree residues, by-products and waste for energy generation in Crete and their future prospects. The quantity of olive tree biomass in Crete has been estimated and its potential for energy generation has been calculated. Possibilities for using it for heat production, power generation, biogas production, pellet manufacturing and fermentable sugar production have been investigated. Experiences in other olive oil producing countries have been recorded together with the technologies used or experimented with so far. The energy potential of olive tree biomass in Crete has been estimated at 24.05 % of the TPES supply in the island. The only highly utilized olive tree by-product for heat generation by combustion in Crete is the olive kernel wood. Olive tree pruning have the highest energy content but they are underutilized in Crete. Their successful utilization in other countries for pellet manufacturing and power generation indicates that their exploitation should be promoted in Crete. The results of this study indicate that olive tree cultivation in Crete, apart from producing a high nutritional edible product, generates residues, by-products and waste which if properly utilized could contribute in the reduction of fossil fuels used and the carbon footprint due to energy use in the island.