"Dale is undoubtedly one of the greatest fast bowlers of all time and we are all very proud of his achievements, not just today, but throughout his chequered career", commented CSA Chief Executive Thabang Moroe.
On the first day of the series against Pakistan, Steyn, who has been plagued by injury for the last three years, had opener Fakhar Zaman (12) caught at second slip to move to 422 Test wickets, taking outright top spot on South Africa's all-time list from Shaun Pollock.
Pakistan's total of 190 means South Africa have the relatively simple task of scoring just 149 in the fourth innings, albeit on a pitch that has thrown a few surprises at the batsmen.
Opener Imam-ul-Haq had looked rock solid at the crease for his 57 before he chopped an Olivier delivery on to his stumps, while number three Shan Masood crafted a fine 65 but holed out to Keshav Maharaj in the deep off Dale Steyn (2-34) as he began to run out of batting partners.
Things unravelled for the Pakistani after tea.
Olivier returned again in his next over to dismiss Azhar Ali without scoring to pick up his third of the innings and ninth of the match.
Olivier took two wickets in four balls immediately after the tea interval and went on take five for 59 for match figures of 11 for 96 following his six for 37 in the first innings.
Amir claimed the prize wicket of Hashim Amla for 8 - Amla's dip in form continued - and Afridi had captain Faf du Plessis caught at gully for a first-ball duck to put the home team in trouble at 43-4.
South Africa vs Pakistan 1st Test Day 3 Live Cricket Score: South Africa take on Pakistan.