And Olsson has backed the forward to continue to do well at The Hawthorns.
Republic of Ireland international Long was the subject of a deadline-day bid from Premier League newcomers Hull and, with Victor Anichebe and Stephane Sessegnon added to the ranks, it was likely a deal would happen.
But any potential move collapsed with Olsson pleased to still have the former Reading man at the club.
"I think he has shown that he is a great player and, when he's at his best, he's a top performer in the Premier League," the Sweden international told the Birmingham Mail.
"I'm happy we managed to keep him. We have competition all around now, it will do the squad good.
"I think Shane has coped with it well. It's just part of football, you have been in some transfer windows, one day you are going, next you are staying, it's part of it. I haven't seen any difference of him this month than before."