Career
He was drafted in the third round, 88th overall, by the Tampa Bay Lightning in the 1999 National Hockey League Entry Draft. Ölvestad had played three seasons in Sweden for Djurgårdens IF before coming to the National Hockey League in the 2001-2002 season to play for the Lightning. After three seasons in North America, during which he appeared in 111 National Hockey League games with the Lightning, Ölvestad returned to Djurgårdens IF during the 2004-2005 National Hockey League lockout.
While the National Hockey League resumed play in the 2005-2006 season, Ölvestad remained in Sweden.
Jimmie made his 500th appearance for Djurgårdens IF against Modo Hockey 3 March 2012. On June 27, 2013, Ölvestad officially announced his retirement.