The EFSA-approved claim that olive oil is beneficial for cardiovascular health suffers from ambiguities that lead to a vague and potentially subjective interpretation of the underlying analytical data. Misunderstandings among customers, but also market distortions are possible consequences. In this study, a rapid and simple analytical technique is presented that circumvents the ambiguity by measuring levels of putative health-promoting compounds as the equivalent of tyrosol and hydroxytyrosol, cleaving such moieties from more complex constituents such as oleuropein and oleocanthal. Since the direct hydrolysis of the olive oil is the central element of the process, the reaction temperature, time, reagent concentration and reagent type were optimized. In addition, the influence of co-solvents, which might support the intermittent miscibility of the two phases during hydrolysis, was investigated. The analytical and economic implications are discussed particularly in the context of a commonly used technique.