The Swede, 19, made his first-team debut for the Gunners last season against West Bromwich Albion in the League Cup.
The youngster, who represents his country at youth level, also featured for the Gunners this summer during their pre-season schedule.
Olsson signed his first professional deal at the Emirates Stadium last year following a spell in the club's youth academy.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Arsenal | 36 | 26 | 5 | 5 | 88 | 28 | 60 | 83 |
| 2 | Manchester CityMan City | 35 | 25 | 7 | 3 | 87 | 33 | 54 | 82 |
| 3 | Liverpool | 36 | 23 | 9 | 4 | 81 | 38 | 43 | 78 |
| 4 | Aston Villa | 36 | 20 | 7 | 9 | 73 | 53 | 20 | 67 |
| 5 | Tottenham HotspurSpurs | 35 | 18 | 6 | 11 | 69 | 58 | 11 | 60 |
| 6 | Newcastle UnitedNewcastle | 35 | 17 | 5 | 13 | 78 | 56 | 22 | 56 |
| 7 | Chelsea | 35 | 15 | 9 | 11 | 70 | 59 | 11 | 54 |
| 8 | Manchester UnitedMan Utd | 34 | 16 | 6 | 12 | 52 | 51 | 1 | 54 |
| 9 | West Ham UnitedWest Ham | 36 | 13 | 10 | 13 | 56 | 70 | -14 | 49 |
| 10 | Bournemouth | 36 | 13 | 9 | 14 | 52 | 63 | -11 | 48 |
| 11 | Brighton & Hove AlbionBrighton | 35 | 12 | 11 | 12 | 53 | 57 | -4 | 47 |
| 12 | Wolverhampton WanderersWolves | 36 | 13 | 7 | 16 | 49 | 60 | -11 | 46 |
| 13 | Fulham | 36 | 12 | 8 | 16 | 51 | 55 | -4 | 44 |
| 14 | Crystal Palace | 35 | 10 | 10 | 15 | 45 | 57 | -12 | 40 |
| 15 | Everton | 36 | 12 | 9 | 15 | 38 | 49 | -11 | 37 |
| 16 | Brentford | 36 | 9 | 9 | 18 | 52 | 60 | -8 | 36 |
| 17 | Nottingham ForestNott'm Forest | 36 | 8 | 9 | 19 | 45 | 63 | -18 | 29 |
| 18 | Luton TownLuton | 36 | 6 | 8 | 22 | 49 | 78 | -29 | 26 |
| 19 | Burnley | 36 | 5 | 9 | 22 | 39 | 74 | -35 | 24 |
| R | Sheffield UnitedSheff Utd | 36 | 3 | 7 | 26 | 35 | 100 | -65 | 16 |
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