The moisturizing qualities of olive oil soap are beneficial to people who have skin rashes, allergies, eczema and psoriasis. Rich in vitamins and minerals, olive oil soap also contains protein. Olive oil soap is rich in Vitamin E. It also contains antioxidants which have healing properties. The soap replaces moisture and elasticity to the skin. High concentrations of olive oil can help cure dandruff. Olive oil soap also reduces buildup from synthetic haircare products.