Olley will be best remembered for her vibrant still-life paintings.
A 1948 portrait of her by William Dobell won the Archibald Prize and she was also the subject of this year's winning portrait by Ben Quilty.
Quilty is quoted by the Art Gallery of NSW as saying she was an "inspiration" and "a feminist ahead of her time".
He said Olley was passionate about social and political issues, as well as art.
"She said to me:'I'm like an old tree dying and setting forth flowers as fast as I can, while it still can'. I think that was such a powerful metaphor." he said.
In an interview several years ago, Olley said she wanted to be remembered for helping people.
A retired teacher librarian who loves travelling especially by train and wastes a lot of time on the Internet.
An Anglican who knows God loves me as a gay man.
Moved at the beginning of 2010 from the Blue Mountains near Sydney, Australia to Dunedin, NZ.
One of the best things I ever did.
I became a New Zealand citizen on 2nd March 2016
I will always be an Aussie by birth but am proud to be a Kiwi by choice.