Not Updated For Current Season
# 14 dec 2010 the patch v 1,0,0,107 has been released and with it a lot of olaf nerf potentialy making this build less efficient
here are the changes :
Undertow now deal physical damage instead of magic damage
Vicious Strikes health scaling changed to 0.5% at all ranks from 0.3/0.6/0.9/1.2/1.5%
Vicious Strikes base damage changed to 10/17/24/31/38 from 12/18/24/30/36
Ragnarok damage reduction reduced to 20/30/40 from 25/45/65
Ghost: I like ghost very much when i play olaf, i learned to use it both agressivily and defensivly. As olaf and especialy in this build you will have lot of HPs and your ultimate will allow you take lot of damage and will immunize you to disables so you will most likely be able to run away from anything while being low on health.
I also use it a lot to rush heroes, you deal huge amount of dmg and with your phage/frozen mallet once you rush them they won't be able to get away. you can also rush them while they're under the tower, with your ultimate you will destroy them and run away safely.
Exhaust: It can be a good alternative to ignite but honestly your phage will slow and you won't really need the blind effect since you can take heavy punishment.
Berzerker Rage - Passive: For each 1% of health missing, Olaf's attack speed is increased by 1%.
Very straightforward; the closer you are to dying, to more hurt you'll put on them!
Undertow - Olaf throws an axe to a target location, dealing 65/110/155/200/245 + 0.3 per Attack Damage to units it passes through and slowing them by 24/28/32/36/40% for 2.5 seconds.
If Olaf picks up the axe, the ability's cooldown is reduced by 6 seconds.
Your harrassing and chasing ability. Deals damage that scales with AD, so a couple points will do for early game. Don't forget to run over it so you can to have it available again!
Vicious Strikes- For 6 seconds, Olaf's attack damage is increased by (10 / 17 / 24 / 31 / 38 base damage plus 0,5% of his max health). While active, Olaf gains 9/12/15/18/21% lifesteal and spell vamp.
Olaf's steroid ability, the extra damage scales with health, but it's nice even on it's own. Increases damage by about 81 at 18th level. The lifesteal is used early game to stay in your lane and continue to whittle your opponent's health down. Later, it gets added to your item's lifesteal to give you massive regen. Lifesteal is 81-91% total at 18th level (with Vicious Strikes).
Reckless Swing- Olaf deals 100/160/220/280/340 true damage to his target and inflicts 40/64/88/112/136 true damage to himself.
This thing takes chunks out of enemies' health bars like nobody's buisness. If you didn't already know, this is True Damage, here. It ignores all resistances, dealing thatmuch damage no matter who it is. As for the self-damage? Well, your passive could always use a little help.
Ragnarok- Active: For 5/6.5/8 seconds, Olaf is immune to disables and reduces incoming damage by 20/30/40.
Passive: Olaf has 10/20/30 increased armor penetration.
It's my first build, so any exception please write on comments. Btw. Sorry for my english, I know it isn't good :)