It is awarded for particularly distinguished contributions to the Olympic Movement, i.e. recognition of efforts worthy of merit in the cause of sport.

The insignia of the Olympic Order is in the form of a collar (or chain), in Gold, Silver or Bronze according to grade; the front of the chain depicts the five rings of the Olympic Movement, flanked on either side by kotinos emblem (olive wreath).

A lapel badge, in the form of miniature five rings and kotinos in Gold, Silver and Bronze according to grade, is presented to recipients to wear as appropriate.

Elena Mukhina became the youngest recipient of the Olympic Order in 1982 when she was 22 years old at the time of her award.

Carlos Arthur Nuzman and Nadia Comaneci are the two only athletes to be awarded the Olympic Order twice.