Olave, who was listed as questionable, was a limited participant in practice Wednesday and Thursday before putting in a full session Friday.
Defensive end Cameron Jordan also is active after being listed as questionable with an ankle injury.
He was hurt in the third quarter against the Falcons, going down hard after he leapt to try to make a catch on the Saints' sideline. He stayed on the ground and was immediately attended to by athletic trainers, who took him to the medical tent to evaluate him. Olave eventually went to the locker room and did not return.
Olave, 23, finished with seven catches for 114 yards. He leads the team with 63 catches for 771 yards and is tied for the team lead with three receiving touchdowns this season.