Extra virgin olive oil (EVOO) is a high-quality product that has become one of the stars in the food fraud context in recent years. EVOO can encounter different types of fraud, from adulteration with cheaper oils to mislabeling, and for this reason, the assessment of its authenticity and traceability can be challenging. There are several officially recognized analytical methods for its authentication, but they are not able to unambiguously trace the geographical and botanical origin of EVOOs. The application of nuclear magnetic resonance (NMR) spectroscopy to EVOO is reviewed here as a reliable and rapid tool to verify different aspects of its adulteration, such as undeclared blends with cheaper oils and cultivar and geographical origin mislabeling. This technique makes it possible to use both targeted and untargeted approaches and to determine the olive oil metabolomic profile and the quantification of its constituents.