A descriptive model was applied to study the shelf life of packaged olive oil, based on 24 month simulations and for various combinations of storage conditions close to the "real-life" situations. The major factors influencing oxidation (namely light, oxygen permeability of packaging materials and temperature of storage), were combined in various case studies otherwise requiring time-consuming experiments. The time evolution of the possibility for packaged olive oil not to reach the end of its shelf life and the month, after bottling, at which this possibility becomes 70%, 50% and 30%, were presented. It was found that exposure of packaged olive oil to light in continuous or alternating patterns should be avoided since, even for a short time, it could significantly stimulate the oxidative degradation caused only by elevated temperatures and presence of oxygen. In general, all the packaging materials tested could be considered adequate for preserving the quality of olive oil under a variety of storage conditions. Plastic containers had a particularly stronger protective role when oil was stored light, while glass was the most protective material when oil was stored in the dark.