Öljeitü, Oljeitu, Olcayto or Uljeitu, Öljaitu, Ölziit, also known as Muhammad Khodabandeh (from Persian, meaning the "man of God"; 1280 - December 16, 1316), is the eighth Ilkhanid dynasty ruler in Iran from 1304 to 1316.

His name "Ölziit" means "blessed" in the Mongolian language.

He is the son of the Ilkhan ruler Arghun, brother and successor of Mahmud Ghazan, and great-grandson of the Ilkhanate founder Hulagu.