Abstract: Due to the severe increase projected in future temperatures and the great economic and social importance of olive growing for vast agricultural areas in the Mediterranean Basin, accurate climate change impact assessment on olive orchards is required. The aim of this study is to assess the flowering date and the impact of mean and extreme temperature events on olive flowering in southern Spain under baseline and future climate conditions. To that end, experimental data were obtained from ten olive genotypes: six well-known olive cultivars in the region, one cultivar, ‘Chiquitita’, obtained via conventional breeding, and three wild olives from the Canary Islands. A site-specific model calibration was conducted resulting in satisfactory performance with an average error of 2 days for flowering date estimation under baseline and future climate conditions, and a RMSE equal to 5.5 days in the validation process. The outputs from 12 regional climate models from the ENSEMBLES European project with a bias correction in temperature and precipitation were used. Results showed an advance in the olive flowering dates of about 17 days at the end of the 21st century compared with the baseline period (1981–2010), and an increase in the frequency of extreme events around the flowering period. A spatial analysis of results identified the areas in southern Spain that are most vulnerable to climate change impact caused by the lack of chilling hours accumulation (areas located on the Atlantic coast and the south-eastern coast) and by the occurrence of high temperatures during the flowering period (areas located in the north and north-eastern areas of the Andalusian region).