The 20-year-old frontman joined Barnet from Birmingham in January and went on to make 14 appearances, scoring four goals in the process.
"Olly has a lot to offer," manager Mark Stimson told the club's official website. "He's bright and has an eye for goal.
"He's conducted himself like a model pro in the weeks he's been with us and has a fierce determination to make a career for himself in the game.
"The competition for places is hotting up now."
Source: http://www.confguide.com/newsArticle.do?id=6813