Find a very sunny, well-draining transplant site for the olive tree. Select a site with a slight slope so water will drain away rather than pooling around the roots. Avoid flat or concave areas with heavy, clay-based soil.
Prepare the transplant site before removing the olive tree from its planter. Work an 8-inch-thick layer of coarse sand into the transplant site using a cultivating fork. Mix the sand into the soil to a depth of 16 inches.
Dig a hole at the transplant site using a sharpshooter shovel, which will excavate deeply with minimal work. Make a hole with the same volume of the olive tree's original planter.
Lay the olive tree's planter on its side next to the transplant hole. Lift the base of the planter and shake it gently to slide the root ball free. Remove as much of the soil from around the roots as possible.
Fill the bottom few inches of the planting hole with the amended soil. Hold the olive tree in the hole so the base of the trunk is 1/2 inch above the surrounding soil. Push soil into the hole until it is filled and the roots are covered.
Water the olive tree after transplanting it. Run a garden hose around the base of the trunk until the soil feels moderately moist at a depth of 3 inches. Add more soil around the base of the tree if it settles more than 1/2 inch.
Water the olive tree sparingly for the first few months to allow it time to recover. Add 1 inch of water only when the soil dries out completely. Cease watering completely once the olive tree shows renewed leaf growth.