In January 2007, Olić moved to Hamburger SV, playing his first Bundesliga match with them against Energie Cottbus on 31 January.
He was signed because Hamburg were in deep trouble, finishing in the relegation zone before the winter break.
It worked out in the end, and Hamburg finished seventh, which even acquired them a UEFA Intertoto Cup place, which they eventually won.
He scored two goals in the last match in the 2006–07 Bundesliga season against Alemannia Aachen in a 4–0 win.
In October 2007, Olić scored a hat-trick in the Bundesliga match against VfB Stuttgart, which Hamburg won 4–1.
He was the first player in the club's history to score three successive goals in one half.

Olić effectively won the 2008 Emirates Cup for Hamburg, with two injury time goals against Juventus, increasing the team's points tally to an unassailable level (due to the points-for-goals system).
He endeared himself to Hamburg fans for his commitment and consistent work rate on the pitch.
In his last game for the north German club, he sported a T-shirt with the words, "Danke fans" ("Thank you, fans") written on it, as he bid farewell to the fans.
In January 2007, Olić moved to Hamburger SV, playing his first Bundesliga match with them against Energie Cottbus on 31 January. He was signed because Hamburg were in deep trouble, finishing in the relegation zone before the winter break. It worked out in the end, and Hamburg finished seventh, which even acquired them a UEFA Intertoto Cup place, which they eventually won. He scored two goals in the last match in the 2006–07 Bundesliga season against Alemannia Aachen in a 4–0 win. In October 2007, Olić scored a hat-trick in the Bundesliga match against VfB Stuttgart, which Hamburg won 4–1. He was the first player in the club's history to score three successive goals in one half.
Olić effectively won the 2008 Emirates Cup for Hamburg, with two injury time goals against Juventus, increasing the team's points tally to an unassailable level (due to the points-for-goals system). He endeared himself to Hamburg fans for his commitment and consistent work rate on the pitch. In his last game for the north German club, he sported a T-shirt with the words, "Danke fans" ("Thank you, fans") written on it, as he bid farewell to the fans.
Ivica Olić