Olenegorsk was elevated in status to that of a town under oblast jurisdiction by the August 10, 1981 Presidium of the Supreme Soviet of the RSFSR Decree, and several inhabited localities previously subordinated to Monchegorsk were transferred to Olenegorsk by the August 26, 1981 Decision of the Murmansk Oblast Executive Committee.
On August 10, 1981, the status of Olenegorsk was upgraded under oblast jurisdiction by a decree from the Presidium of the Supreme Soviet of the RSFSR. On August 26, 1981, the Murmansk Oblast Executive Committee reorganized localities previously subordinate to Monchegorsk into Olenegorsk.