Agricultural production is greatly affected by environmental stresses, such as cold, drought and high-salinity. It is possible to produce tolerant genotypes by transferring genes encoding protective proteins or enzymes from other organisms. In this regard, the current study was aimed to clone a novel OeSRC1 gene identified during the transcriptome profiling of olives (Olea europaea L.) and to investigate the function of this gene in tobacco plants. Functional evaluation of OeSRC1 gene in putative transgenic tobacco plants were carried out under drought, cold and salt stress conditions by using molecular and biochemical tools. It was observed that the transgenic tobacco plants exhibited higher seed germination and survival rates, better root and shoot growth under cold, salt and drought stress treatments compared to wild type plants. Our results also demonstrated that, under stress conditions, transgenic plants accumulated more free proline while no significant changes were observed regarding electrolyte leakage. Ascorbate peroxidase activity of OeSRC1-overexpressing plants was higher than those of the WT plants under different stress conditions. The overall results demonstrate the explicit role of OeSRC1 gene in conferring multiple abiotic stress tolerance at the whole-plant level. The multifunctional role of olive OeSRC1 gene looks good to enhance environmental stress tolerance in diverse plants.