In a medium bowl, combine the yoghurt and salt.
Line a colander or sieve with a sheet of cheesecloth or muslin, allowing enough cloth for the edges to hang loosely over the sides.
Gently pour the salted yoghurt into the centre of the cheesecloth, then fold the edges over so that the yoghurt is fully covered.
Add some weights on top of the yoghurt to help press down on the yoghurt and force excess water from the Labneh. Store in the fridge for 12-48 hours until the Labneh has been reduced by half.
Discard the water and serve the cheese-like yoghurt mix as homemade Labneh. Garnish with olive oil, and store with olive oil, creating a protective seal over the Labneh for storage.