One of the main challenges for olive oil producers is the ability to assess oil quality regularly during the production cycle. The quality of olive oil is evaluated through a series of parameters that can be determined, up to now, only through multiple chemical analysis techniques. This requires samples to be sent to approved laboratories, making the quality control an expensive, time-consuming process, that cannot be performed regularly and cannot guarantee the quality of oil up to the point it reaches the consumer. This work presents a new approach that is fast and based on low-cost instrumentation, and which can be easily performed in the field. The proposed method is based on fluorescence spectroscopy and one-dimensional convolutional neural networks and allows to predict five chemical quality indicators of olive oil (acidity, peroxide value, UV spectroscopic parameters K270 and K232, and ethyl esters) from one single fluorescence spectrum obtained with a very fast measurement from a low-cost portable fluorescence sensor. The results indicate that the proposed approach gives exceptional results for quality determination through the extraction of the relevant physicochemical parameters. This would make the continuous quality control of olive oil during and after the entire production cycle a reality.