Nominally anhydrous minerals (NAMs) may contain significant amounts of water and constitute an important reservoir for mantle hydrogen. The colloquial term ‘water’ in NAMs is related to the presence of hydroxyl-bearing (OH−) point defects in their crystal structure, where hydrogen is bonded to lattice oxygen and is charge-balanced by cation vacancies. This hydrous component may therefore have substantial effects on the thermoelastic parameters of NAMs, comparable to other major crystal-chemical substitutions (e.g., Fe, Al). Assessment of water concentrations in natural minerals from mantle xenoliths indicates that olivine commonly stores ∼0–200 ppm of water. However, the lack of samples originating from depths exceeding ∼250 km coupled with the rapid diffusion of hydrogen in olivine at magmatic temperatures makes the determination of the olivine water content in the upper mantle challenging. On the other hand, numerous experimental data show that, at pressures and temperatures corresponding to deep upper mantle conditions, the water storage capacity of olivine increases to 0.2–0.5 wt%. Therefore, determining the elastic properties of olivine samples with more realistic water contents for deep upper mantle conditions may help in interpreting both seismic velocity anomalies in potentially hydrous regions of Earth's mantle as well as the observed seismic velocity and density contrasts across the 410-km discontinuity.Here, we report simultaneous single-crystal X-ray diffraction and Brillouin scattering experiments at room temperature up to 11.96(2) GPa on hydrous [0.20(3) wt% H2O] Fo90 olivine to assess its full elastic tensor, and complement these results with a careful re-analysis of all the available single-crystal elasticity data from the literature for anhydrous Fo90 olivine. While the bulk (K) and shear (G) moduli of hydrous Fo90 olivine are virtually identical to those of the corresponding anhydrous phase, their pressure derivatives K′ and G′ are slightly larger, although consistent within mutual uncertainties. We then defined linear relations between the water concentration in Fo90 olivine, the elastic moduli and their pressure derivatives, which were then used to compute the sound velocities of Fo90 olivine with higher degrees of hydration. Even for water concentrations as high as 0.5 wt%, the sound wave velocities of hydrous and anhydrous olivines were found to be identical within uncertainties at pressures corresponding to the base of the upper mantle. Contrary to previous claims, our data suggest that water in olivine is not seismically detectable, at least for contents consistent with deep upper mantle conditions. In addition to that, our data reveal that the hydration of olivine is unlikely to be a key factor in reconciling seismic velocity and density contrasts across the 410-km discontinuity with a pyrolitic mantle.