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1929年與其表姊，瑞典瑪塔公主(Princess Märtha of Sweden)結婚。<ref name="royalcourt">{{cite web| url=https://www.royalcourt.no/artikkel.html?tid=28671&sek=28577 |title=King Olav V (1903-1991)|date=2012-02-13|publisher= The Royal House of Norway| language = EN |accessdate=2020-01-08}}</ref><ref>{{Cite web |url = https://kknews.cc/zh-tw/history/nl8njr8.html | title = 又帥又賢的挪威國王奧拉夫五世 | date = 2019-09-25 | publisher = 每日頭條| language =ZH | accessdate = 2020-01-08 }}</ref> === 奧運金牌 ===1928年的[[阿姆斯特丹]]夏季奧林匹克運動會上，奧拉夫王子與「Norna號」奪下了6米型帆船賽的金牌。<ref> {{Cite book | author = 華遠路 | title =奧運百科:百年奧運史話全紀錄 | publisher = 漢宇國際文化 | date = 2005-01-01 | pages = 45 | ISBN = 9867185498 | accessdate = 2020-01-08 | url = https://books.google.com.tw/books?id=LPpGDwAAQBAJ&dq=%E5%A5%A7%E6%8B%89%E5%A4%AB%E4%BA%94%E4%B8%96&hl=zh-TW&source=gbs_navlinks_s | language = ZH }}</ref>