He managed the Norway national team from 1990 to 1998, guiding them to World Cup final tournaments in 1994 and 1998, with Norway peaking at number two on the FIFA ranking.
He worked from 2005 to 2007 as an analyst for Vålerengens IF before joining Expekt.com.

In 1995 as Norway manager Egil Olsen used one of his three votes to nominate Norway women's football star Hege Riise as the FIFA World Player of the Year.
The first time a woman player had been nominated in what is seen as a men's football award.

In June 1999, the then 57-year-old Olsen made his appearance in English football, when he was named as manager of Wimbledon.
He reportedly turned down an approach from Celtic to take charge of the London club, becoming the first Norwegian to manage in the Premier League.
Olsen has stated that his favorite player at the club was Welsh international Ben Thatcher.
He remained in charge for less than a year, and was sacked just before the club was relegated from the Premier League, having been top division members since 1986.
Club captain Robbie Earle said that "Olsen just didn't know how to get the best out of us".

On 19 May 2007, Olsen rejected an offer to manage the Iraq national football team citing a busy schedule.

However, the Iraqi football president vowed not to give up on his signature and on 17 September, Olsen signed a three-year contract.
In February 2008, Iraq sacked Olsen without telling him.
He had tried to contact them by several means, but received the message when a new manager was installed, this action on the Iraqis part was very unexpected and their reason was said to be that they did not believe Olsen was strict enough.

On 14 January 2009, it was announced that Olsen would once again manage the Norway national football team in an interim period until a successor for Åge Hareide could be found.

In their first game under his management, they beat Germany 0–1 in a friendly away game in Düsseldorf.
It is the first time Norway has won against Germany, since the 1936 Summer Olympics in Berlin.

With Olsen as manager Norway rose from No.
59 in 2009 to No.
11 in 2011 on the FIFA rankings.

On 27 September 2013, Olsen agreed to stand down as coach following the World Cup qualifying at home defeat to Switzerland.
He managed the Norway national team from 1990 to 1998, guiding them to World Cup final tournaments in 1994 and 1998, with Norway peaking at number two on the FIFA ranking. He worked from 2005 to 2007 as an analyst for Vålerengens IF before joining Expekt.com.
In 1995 as Norway manager Egil Olsen used one of his three votes to nominate Norway women's football star Hege Riise as the FIFA World Player of the Year. The first time a woman player had been nominated in what is seen as a men's football award.
In June 1999, the then 57-year-old Olsen made his appearance in English football, when he was named as manager of Wimbledon. He reportedly turned down an approach from Celtic to take charge of the London club, becoming the first Norwegian to manage in the Premier League. Olsen has stated that his favorite player at the club was Welsh international Ben Thatcher. He remained in charge for less than a year, and was sacked just before the club was relegated from the Premier League, having been top division members since 1986. Club captain Robbie Earle said that "Olsen just didn't know how to get the best out of us".
On 19 May 2007, Olsen rejected an offer to manage the Iraq national football team citing a busy schedule.
However, the Iraqi football president vowed not to give up on his signature and on 17 September, Olsen signed a three-year contract. In February 2008, Iraq sacked Olsen without telling him. He had tried to contact them by several means, but received the message when a new manager was installed, this action on the Iraqis part was very unexpected and their reason was said to be that they did not believe Olsen was strict enough.
On 14 January 2009, it was announced that Olsen would once again manage the Norway national football team in an interim period until a successor for Åge Hareide could be found.
In their first game under his management, they beat Germany 0–1 in a friendly away game in Düsseldorf. It is the first time Norway has won against Germany, since the 1936 Summer Olympics in Berlin.
With Olsen as manager Norway rose from No. 59 in 2009 to No. 11 in 2011 on the FIFA rankings.
On 27 September 2013, Olsen agreed to stand down as coach following the World Cup qualifying at home defeat to Switzerland.
Egil Olsen