Olympia ground is the largest ground in Matheran. This is a plateau and was constructed in 1891, this is the biggest ground in Matheran and is famous for the Horse Riding Events held here. Previously this would be a place with dense trees throughout which was later cut down to make a racecourse. The area of olympia race course is around 10 acres with the racecourse length approximately 750m. Besides the ground there is St Xavier High School.
The Bombay Amateur Riders Club hold their annual mounted sports at Olympia in May. However many other sports are also conducted here. Even horses from Matheran participate. Olympia ground is approximately 2.5km from main market area. There are few old british bungalows still around Olympia ground.