The 27-year-old actress-turned-fashion designer has recently started going out with Peoples and is keeping the relation under wraps, reported Us magazine.
"Ashley is dating David. It's pretty new," an insider said.
Olsen's last high-profile romance was with "Hangover" actor Justin Bartha, whom she dated from 2008 to 2011. Other exes include Elder Statesman designer Greg Chait and restaurateur Scott Sartiano.
Meanwhile, her twin sister Mary-Kate Olsen has been stepping out with 43-year-old multimillionaire Olivier Sarkozy since late 2012.