Bendtner had been expected to leave north London in the summer on a permanent move after spending the last two seasons on loan at Sunderland and Juventus.
However the Dane, who joined the Gunners as a 16-year-old from FC Copenhagen, remains at the Emirates where he has made just seven club appearances in all competitions so far this season.
His only goals have come for Denmark when he struck twice in a World Cup qualifying 2-2 draw against Italy last month - and Olsen believes the 25-year-old's career is being stalled by Arsenal.
"Bendtner scored two great goals for us in the game against Italy, but there were also things he lacked in the match and this only comes through playing games", said Olsen.
"It is for this reason that he should find something new this winter, and so, we know that well. I think he will make the recommendation to himself and that is the main thing. Footballers want to play football.
"He has maybe 10 years left to go; he must use them well."