The low incidence of coronary heart disease, cancer and several chronic diseases in Mediterranean countries is linked to certain nutritional habits, but mainly to olive oil consumption (Boskou, 2007). Health promoting properties of olive oil are attributed to high contents of oleic acid and phytochemicals like sterols, polyphenols, tocopherols and terpenic acids (Boskou, 2007). In Greece, where 60% of cultivated land is devoted to olive growing, olive oil represents an important agronomic product; olive oil production reaches 350,000 tons per year approximately, of which 82% is extra virgin (Wikipedia, 2012).