In my opinion, Olaf is such an amazing character to build AD on. He can't be disabled WHATSOEVER when he has his ult up, so this makes the "I'll stun your attack speed," theory useless on Olaf. He has great poke, and great sustain.

I chose the basic set of AD Masteries. Nothing really special to them. But, if you feel like going with more utility, go for it.

Bloodthirster - Why would you not get this on an AD build? Lifesteal, great passive, and attack damage.

Phantom Dancer - Crit, Attack Speed, Movement Speed, what else could you need?

Frozen Mallet - This is your "sustainability" item. You need the health from this, and the extra AD helps alot, as does the passive.

Infinity Edge - Amazing AD item. However, this is your "Replace" item. If you have, say, an enemy Master Yi on your team, change this to a Thornmail. If any other circumstances come where you need to replace this, do whatever you want.

Black Cleaver - Amazing. Attack speed, Attack Damage, and the passive is just.. awesome.

Undertow - I take level 3 undertow before I get my ult, because; this gives me wonderful poke, and the slow is pretty much useless at level 1.

Vicious Strikes - I love this SO MUCH. Not only does it give me lifesteal, it gives me a percentage of my health as returning AD, for 6 SECONDS!

Reckless Swing - This skill is one of my favorite skills. True damage. TRUE. DAMAGE. True damage CANNOT be decreased in ANY WAY at all. It slithers past the enemy's defences, and just takes a portion of their health away. Although, I don't like the high health cost on it.

Ragnarok - Its an ultimate, what else can I say? This removes all incoming disables towards Olaf for a few seconds. This makes Olaf the perfect AD Champion.

Pros:
Great Poke
Great Sustain
Great Laning
You can make train noises without feeling like an idiot
He can turn around fights when hes low HP (His Passive)

Cons:
If he doesn't get fed well, he can easily be ignored in team fights.
No disables, only a slow.
One of his best abilities requires health to use