A nanohybrid prepared from green source (nanocellulose, NC) and nitrogen, sulfur co-doped graphene quantum dots (N, S@GQDs) was prepared for the electrochemical detection of olanzapine (OLZ), atypical antipsychotic primarily used to treat schizophrenia and bipolar disorder. Polar groups on the surface of NC and N, S@GQDs provide more anchoring sites for adsorption of OLZ onto the electrode surface. In addition, it provides high conductivity, good mechanical strength, large surface area, and excellent electrical conductivity. The nanocomposite was characterized morphologically and electrochemically by scanning electron microscope (SEM), Fourier transform infrared spectroscopy (FTIR), Raman spectroscopy, powder X-ray diffraction (PXRD), X-ray photoelectron spectroscopy (XPS), energy dispersive X-ray spectroscopy (EDX), transmission electron microscope (TEM), electrochemical impedance spectroscopy (EIS), cyclic voltammetry (CV) and square wave adsorptive stripping voltammetry (SWAdSV). Under the optimized conditions, the modified electrode has a good response in the range of 1.5–90.0 × 10−8 M with LOD of 0.5 × 10−8 M. The proposed electrode offers high sensitivity, selectivity, and reliability towards OLZ detection. The SWAdSV was used to determine OLZ in pharmaceutical tablets, human plasma and urine with good recoveries % and reasonable RSD% values.