The 21-year-old stated that he would cut short his loan deal and return to De Kuip if he was not given an increase in wages.
He claimed he deserved improved terms after helping Excelsior to promotion.
His demands fell on deaf ears, and he set back for Feyenoord, but a compromise was struck on Wednesday.
Olfers will be joined at Woudenstein stadium by Feyenoord team-mate Civard Sprockel.
Sprockel has little chance of forcing his way past the likes of Kees van Wonderen, Patrick Paauwe, Ferry de Haan and Glenn Loovens in the Feyenoord defence, and has accepted a loan move.
A temporary move clearly appeals to Sprockel, who said: "I`m still young and I have to play as much as possible.
"Our coach Bert van Marwijk thinks the same and it will be better for me to develop my skills at another club."
