Ollaberry (Old Norse: Olafrsberg, meaning Olaf's Hill) is a village on Mainland, Shetland, Scotland on the west shore of Yell Sound, 10.9 miles (17.5 km) north by road from Brae.

Ollaberry is situated within the parish of Northmaven in the Northmavine area of the Mainland of the Shetland Islands.

It lies on Ollaberry Bay on the west shore of Yell Sound, with the island of Lamba about 1.4 kilometres (0.87 mi) to the east.

There is a small beach and pier at Ollaberry, and a steep cliff falling to the sea to the northeast of the settlement.

In the churchyard is a large memorial with Corinthian-like columns, the work of sculptor John Forbes in 1754.