The ITV2 show will follow last year's X Factor runner-up as he attempts to crack the charts with his debut single 'Please Don't Let Me Go', reports The Sun.
His record label Sony is believed to have spent more than £100,000 on the documentary, which is due to be shown alongside this year's series of The X Factor.
A source said: "Sony really wants Olly to be a success so they have funded a documentary about him for ITV2.
"The idea is for fans to get to know the real Olly so, hopefully, they will buy his album."
'Please Don't Let Me Go' will be released for download on August 28, with a physical release on the following day.