Ólafur Tryggvason Thors (19 January 1892 – 31 December 1964) was an Icelandic politician of the Independence Party, who served six times as prime minister of Iceland.

The son of Margrét Þorbjörg Kristjánsdóttir and Thor Philip Axel Jensen, Ólafur Thors was a member of parliament from 1926 until the day of his death in 1964.

His first ministerial post was as a substitute justice minister from 14 November 1932 to 23 December 1932.

Although he did take a three month hiatus from office in 1961 during a sick leave where Bjarni Benediktsson served as acting prime minister.

His fifth government with the Social Democrats sat under two other prime ministers from the Independence Party until 1971.