The 21-year-old model will follow in the footsteps of her sister as the Kiss Kiss singer played rebellious teen Flick Scully in the soap between 1999 and 2002.
Olympia will play new character, feisty Paige Novak. She said: "This is an amazing opportunity to learn from so many experienced actors and really hone my skills."
"Holly has been incredibly supportive and super proud, it's been great and she can't wait to see me on Ramsay Street. We really are the modern family and I guess we're not unlike a lot of the extended families represented on Neighbours so I already have an affinity with some of the characters."
Olympia, who has been modelling for a number of years, attended drama school and still studies at the Melbourne Actor's Lab. She has already worked on a few indie film projects, but Neighbours will be her TV debut.
The daughter of Greek and Serbian parents, Olympia was born and raised in Melbourne, and is the step-daughter of Australian singer Ross Wilson, frontman from Mondo Rock and Daddy Cool. Olympia will appear in Neighbours in Australia from June, and on Channel 5 in the UK a few weeks later.
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