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Olfus is a area in Arnessysla county, with its boundaries at Olfusa in the east and the Hellisheidi plateau in the west.

The landscape of Olfus is characterised by much lava, and wetlands. There is strong geothermal activity in the area and earthquakes are frequent. Olfus stretches southwest towards sands and lava. 

The area offers good services and is noted for its greenhouse fruits and horse-riding tours. The towns Hveragerdi, Thorlakshofn and Arbaejarhverfi belong to Olfus, though Hveragerdi is a municipality of its own.