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Olanzapine is an antipsychotic medication that affects chemicals in the brain. Olanzapine is used to treat the symptoms of psychotic conditions such as schizophrenia and bipolar disorder (manic depression) in adults and children who are at least 13 years old. Olanzapine is sometimes used together with other antipsychotic medications or antidepressants. Olanzapine may also be used for purposes not listed in this medication guide.Zyprexa (olanzapine) is used to treat bipolar disorder and schizophrenia. The drug is part of the atypical antipsychotics drug class. Zyprexa targets chemicals in the brain to reduce symptoms of bipolar disorder and schizophrenia.