The Oloy (Russian: Олой) is a river in Magadan Oblast in Russia, a right tributary of the Omolon (Kolyma's basin). The length of the river is 471 kilometres (293 mi). The area of its drainage basin is 23,100 square kilometres (8,900 sq mi). The river flows through sparsely populated areas of Chukotka.

It has its sources in the Ush-Urekchen range, at the confluence of Left Oloy and Right Oloy. It flows roughly northwestwards between the Ush-Urekchen to the south and the Oloy Range to the north.

• List of rivers of Russia

• Pictures of Chukchi people in the Oloy basin
• "Tourism and environment" (PDF). (571 KB)