Olivo signed a minor league contract with the Dodgers this season and hit .390 with four home runs and 18 RBIs in 15 games at Albuquerque.
Federowicz hit .109 in 13 games since being recalled on April 8.
To make room on the 40-man roster, the Dodges moved right-hander Chad Billingsley to the 60-day disabled list.
Regular catcher A.J. Ellis has been on the disabled list with a knee injury since early April.