Olavum Theeravum (transl. Waves and shore) is a 1970 Indian Malayalam-language drama film directed by P. N. Menon, written by M. T. Vasudevan Nair, and produced by P. A. Backer. It stars Madhu and Ushanandini, with Jose Prakash, Philomina, and Nilambur Balan in supporting roles. The film has a musical score by M. S. Baburaj. Cinematography was done by Mankada Ravi Varma.

Based on M. T. Vasudevan Nair's own short story of the same name, published in an anthology of short stories in 1957. The story is about a Muslim trader who falls in love with his dead friend's sister who is the daughter of a prostitute. But the girl's mother forces her to marry a wealthy man who has an eye on her.Olavum Theeravum was released on 27 February 1970 to critical acclaim. The film was also a commercial success and went on to become one of the highest grossing Malayalam films of the year. The film won four Kerala State Film Awards that year for Best Feature Film, Best Cinematography (Mankada Ravi Varma), Script (M.T. Vasudevan Nair) and Second Best Actress (Philomina).The film is now regarded a landmark film in Malayalam film history as this film is credited to be the catalyst for the making of art house films that flourished in the Malayalam film Industry during the seventies. Films like Swayamvaram and Peruvazhiyambalam is said to have taken inspiration from this film.