king of Denmark (as Olaf III, 1376–87) and of Norway (1380–87). He was the son of Haakon VI and of Margaret (Margaret I) (Margrete), daughter of Valdemar IV, king of Denmark.

After Valdemar's death in 1375, Olaf was elected (1376) king of Denmark and succeeded his father as king of Norway in 1380. The government of Norway was conducted by a state council, but power was largely in the hands of Olaf's mother, who planned to unite Norway, Sweden, and Denmark. Olaf attained his majority in 1385 but died two years later.