Olay Eyes Pro-Retinol Eye Treatment is the latest in the “Olay Eyes” eye cream series, which also includes Olay Eyes Eye Lifting Serum and Olay Eyes Deep Hydrating Eye Gel. Designed for crow’s feet, Olay Eyes Pro-Retinol Eye Treatment promises to reduce the appearance of crow’s feet in just 4 weeks.
In short, this is a pretty good eye cream, especially for the money, retailing at $24.99 for 0.5 ounces – and you can often find it cheaper, whether it’s on sale or on Amazon. It’s not going to create miracles, but it will help to maintain the skin around your eyes with regular use over time. For more, read on.

Niacinamide is an Estimated 4% Here; Produces Most Effects
Although Olay Eyes Pro-Retinol Eye Treatment talks a lot about retinyl propionate, the truth is, the majority of the effects you experience from this product are from the high concentration of niacinamide, which I estimate to be about 4% here.
Niacinamide has been proven in peer-reviewed studies to help improve the appearance of uneven skin tone and dullness, and softens the skin (mostly), as well as aid in improving the look of fine lines and wrinkles (Journal of Cosmetic Dermatology, 2004).
With regular use over time, the niacinamide in Olay Eyes Pro-Retinol Eye Treatment is really what should produce the most effects for you.

Retinyl Propionate Needs to be at 0.3% to Rival Retinol
Retinyl propionate is one of the new-ish retinol esters on the market. While some retinol esters are proven to be more potent, ounce for ounce, than retinol, retinyl propionate is less so, with about twice as much retinyl propionate – 0.3% – needed to produce the same results as 0.15% retinol (inciDecoder). But considering concentrated retinol products are usually sold as 0.5-2.0%, I’m not really impressed by this.
Even so, it’s impossible to estimate the concentration of retinyl propionate in Olay Eyes Pro-Retinol Eye Treatment, because ingredients in concentrations 1% and under can be listed in any order on a cosmetics/skincare label (FDA).
Assuming this product has 0.3% retinyl propionate, it’s likely to produce some of the same effects as 0.15% retinol – namely, some degree of mild wrinkle-reducing or fine line decreasing. But it’s not likely to be a game-changer. I mean, picture watering your 0.5% retinol cream down to ⅓ of its usual potency – that’s what you’re getting here. Something, but really, why not spend a little more and get a 0.5-1.0% retinol cream?!

Bottom Line
Like in most Olay skincare products, the truly effective ingredient is the niacinamide, which may help with skin sallowness, uneven skin tone, and dryness, as well as (to a lesser degree) fine lines and wrinkles. It also has retinyl propionate, but given that retinyl propionate is about half as potent as retinol, you’d need 1.0% retinyl propionate to give the same effects as 0.5% retinol – something which this product almost certainly doesn’t have. I wouldn’t buy this product for retinol, then, but mainly for the niacinamide and the low price.
Ingredients in Olay Eyes Pro-Retinol Eye Treatment
Water, Glycerin, Niacinamide, C12-15 Alkyl Benzoate, Polyethylene, Dimethicone, Stearyl Alcohol, Cetyl Palmitate, Tocopheryl Acetate, Panthenol, Carnosine, Cetyl Alcohol, Caprylic/Capric Triglyceride, Behenyl Alcohol, Sodium Acrylate/Sodium Acryloyldimethyl Taurate Copolymer, Isohexadecane, Retinyl Propionate, Cetyl Ricinoleate, Dmdm Hydantoin, Carbomer, Polysorbate 80, Stearic Acid, Polysorbate 20, PEG-100 Stearate, Disodium EDTA, Sodium Hydroxide, BHT, Iodopropynyl Butylcarbamate