The effects of drought on the activities of superoxide dismutase (SOD), catalase (CAT), ascorbate peroxidase (APX), guaiacol peroxidase (POD), indoleacetate oxidase (IAAox) and polyphenol oxidase (PPO) were studied in 2-year old Olea europaea L. (cv. ‘Coratina’) plants grown under high temperatures and irradiance levels and gradually subjected to a controlled water deficit. After 20 d without irrigation, mean predawn leaf water potential fell from –0.37 to –5.37 MPa, and decreases in net photosynthesis and transpiration occurred. The activities of SOD, APX, CAT and POD increased in relation to the severity of drought stress in both leaves and roots. In particular, a marked increase in APX activity was found in leaves of plants at severe drought stress. CAT activity increased during severe water deficit conditions in leaves and fine roots. The patterns of POD and IAA oxidase activity ran in parallel and showed increases in relation to the degree of drought. In contrast, PPO activity decreased during the progression of stress in all the tissues studied. The results show that the ability of olive trees to up-regulate the enzymatic antioxidant system might be an important attribute linked to drought tolerance. This could limit cellular damage caused by active oxygen species during water deficit.