Olcott is located at 43°20'14" North, 78°42'52" West (43.337500, -78.714722).
According to the United States Census Bureau, the city has a total area of 5.31 mi2 (13.76 km2). 4.59 mi2 (11.89 km2) of it is land and 0.72 mi2 (1.87 km2) of it is covered by water. The total area is 13.58% water.
Olcott is located in the Eastern Standard Time (EST) timezone, GMT-05:00. It observes Daylight Saving Time (DST).