The club earned 2nd spot on the Premier League table and played in the grand final against Metro Stars eventually losing 2–1 after leading 0–1.

Former Socceroo Branko Milosevic was appointed as first team coach and number of former players returned to the club as it sought to challenge for promotion into the first division.

The 2012 season started with the appointment of Reserve team coach Shane Porter to the First team position however due to player discontent and a poor start to the season the board decided to part ways with Shane Porter and moved quickly to appoint former Blue Eagles coach Zoran Karadzic.

A key appointment was the former Scottish Premier League star Alby Kidd to senior role with Branko Milosevic alongside.

In the middle of the second half of the season, Olympic went into another slump only claiming 1 point in a month of playing sending the team as far back as 5th.

All looked lost and the team began their goodbyes and congratulations to retiring players when a lifelong supporter burst into the change room announcing & screaming it was 2–2 at the Cumberland United vs Adelaide Hills game.

A 1–1 draw at home with both sides looking dangerous gave Pirates an away goal advantage however the 2nd leg would be remembered forever.

Even after James Dimopoulos, vice-captain was sent off, and a repeat of last season looked imminent, Adelaide Olympic turned that on its head.

A power drive into the bottom corner from Sean Brennan gave Olympic the 0–1 and Pirates' away goal counted for nothing.

Arguably the goal of the season across all leagues was scored by Oliver Totani after turning four Pirates players inside out and curling the ball just under the apex leaving the keeper helpless, gave Olympic a 0–3 lead.

Erba would again nail the coffin shut sending Pirates back down to the State League with a converted one-on-one with the keeper making it 0–4.

From 2016 onwards, Adelaide Olympic has cemented its place within the first tier of football within South Australia, the National Premier League.