You can, there are many varieties of olive oil, the advantages are countless, in general, people are using it to cook, in fact, you can beauty, you can prevent cracks, you can get rid of wrinkles, you can wash your hair (a few drops of hair brightening) and so on; of course, you can soak the water to drink, just relatively rare, the feeling will not be very good to drink (if it is a special use of this is a different story). I hope to help you.