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Chilling and freezing injuries of olives harvested in geographically high elevated locations may affect the quality of olive, and subsequently lead to oil with a poor quality. This study was aiming to investigate the influence of whether changes and freezing condition on the quality of extracted olive oil. The olive Koroneiki cultivar obtained from two origins was stored at three different temperatures (20, 5 and -18 °C) before oil extraction and common analyses (oil yield, acidity, peroxide value, thiobarbitorik acid value, total phenolics level, and color) were carried out in different time intervals (0, 20, 40, and 60 days) in order to assess the olive oil quality. Our data revealed that longer storage times significantly (P < 0.05) decreased the quality of olive oil. The fruits remained at 20 °C provided the lowest oil quality in all parameters. For example, the acidity of olive oil at 20 °C was 177% higher than samples kept at 5 °C after 20 days of olive storage. The general trend for comparing the quality parameters of extracted oils from olives kept at different temperatures was -18 > 5 > 20 °C. No significant negative effect (P < 0.05) was found for the samples kept at -18 °C, compared to 5 °C. Also, the geographical source of olive had a statistically significant influence (P < 0.05) on the quality of olive oil.