Olive leaves extract is famous for its antioxidant and protective effects. In this study, the aqueous extract of Iraqi Olea europaea L. Leaves was investigated for its anti-diabetic effects against low double doses of alloxan induced Diabetes Mellitus in rats. Low double doses (75 mg\Kg body weight) of alloxan were injected intraperitoneally at day 1&29 of the experimental period in rats, whereas an aqueous extract of Iraqi Olea europaea L. Leaves was added continuously to their drinking water. Serum malondialdehyde concentration, total oxidative stress and oxidative stress index as oxidoreductive stress biomarker, activities of certain antioxidoreductive stress enzymes (glutathione peroxidase, super oxide dismutase and catalase) and concentration of reduced form glutathione wit total antioxidative stress capacity and lipid profile were estimated. Furthermore, histopathological evaluation of pancreas and liver were conducted. Obviously, the double doses of Alloxan that injected intraperitoneally were enhanced oxidoreductive stress by elevation of malondialdehyde and decreased some antioxidative stress biomarkers like GSH-Px and reduced form of glutathione and ultimately by increasing fasting blood glucose. Simultaneously, The diabetic rats treated with the extract showed reduction in fasting blood glucose by enhanced insulin sensitivity, improved some antioxidative parameters, and significantly decreased the histopathologic lesions noticed in pancreas of the treated diabetic rats. Together with converting the pathology of these organs caused by diabetes to almost normal architecture. Taken together, the aqueous extract of Iraqi olive leaves demonstrated many therapeutic criteria to cope with oxidoreductive stress mediated diabetes mellitus in alloxan injected rats.