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Olaf Kölzig was drafted 19th overall in the 1989 Entry Draft by the Washington Capitals. That year, he made his NHL debut on October 11 against the Whalers. After playing one more game that season, he then returned to the junior ranks for the balance of the season. Three seasons later in 1992-93, Olaf played 20 minutes of one game; in 1993-94, he played seven games. In the shortened 1994-95 campaign, Olaf played 14 games and earned his first win on January 27 against the Islanders. He went 2-8-2 with a 2.49 goals-against average playing behind goaltending partner Jim Carey. The following season, Olaf went 4-8-2 in 18 games behind Vézina winner Carey. In the playoffs, Olaf went 2-3 and posted a 1.94 GAA.
In 1996-97, Olaf posted an 8-15-4 record in 29 games sharing goaltending duties first with Carey and then with Bill Ranford (the team made a trade with the Bruins in March). On January 3, he posted his first shutout. Just six nights later (two games later), he posted his second shutout. In 1997-98, Olaf took over the starting duties and went 33-18-10 in 64 games. He posted five shutouts and a 2.20 GAA and helped the team improve 17 points to get back into the playoffs. That year, Olaf played in his first mid-season All-Star Game. In the post-season, Olaf went 12-9 leading the Capitals to a Prince of Wales Trophy championship in the Eastern Conference finals before losing to the Red Wings in the Stanley Cup finals. Olaf posted a 1.95 GAA and tied a league record with four playoff shutouts.
In 1998-99, Olaf went 26-31-3 as the Capitals fell 25 points in the standings and missed the playoffs. Olaf posted a 2.58 GAA and four shutouts. In 1999-2000, Olaf went 41-20-11 and helped the team bounce back 34 points to win the Southeast Division title with 102 points in the standings. Olaf won the Vézina Trophy as the top goalie while playing 73 games and leading the league with 4,371 minutes played. He played in his second mid-season All-Star Game, posted a 2.24 GAA and five shutouts and was named a First Team All-Star at year's end. In the playoffs, Olaf and the Capitals lost in the first round. In 2000-01, Olaf posted a 37-26-8 record as the Capitals won their second straight division title. He won Player of the Week honours (December 18) and surpassed Don Beaupré as the team's all-time wins leader. He had a 91.5 save percentage, a 2.48 GAA and five shutouts.
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