Oliinykove was founded in 1800 as a settlement within the Russian Empire.

During the initial eastern campaign of the 2022 Russian invasion of Ukraine, the village was occupied by Russia on 24 February 2022, the first day of the conflict.

It was subsequently retaken by Ukrainian forces later that year during its 2022 Kharkiv counteroffensive.

Oliinykove was once again captured by Russian forces on 11 May 2024 during the 2024 Kharkiv offensive.

This article about a location in Kharkiv Oblast is a stub.