Olonets is one of the most ancient settlements of Karelia. Early man sites found The parking of the ancient person found by archeologists in the lower reaches of River Olonka (the basin of Lake Ladoga) date back to 3rd -2nd millennium BC.

Olonets was first recorded in the Charter of the Novgorod Prince Svyatoslav Olgovich in 1137.

During the Russian-Swedish wars of the 16th -17th centuries the town was repeatedly ruined.

According to the Stolbov peace treaty of 1617 the border with Sweden came to pass at the 40 km distance from the Olonets country churchyard.

Tradespeople of Olonets in the 2nd half of the 17th were enterprising dealers and travelled in small ships even to Stockholm. At the end of the 17th century Olonets totaled 726 house yards.