Drizzle the olive oil into a medium-sized skillet and place over medium heat.
Once the skillet is heated, add the sausage. Cook until browned, breaking apart the meat as it cooks. Drain off any excess grease and return to the stovetop, lowering the heat to medium-low.
Add the cream cheese cubes and Rotel (don't drain). Stir frequently until the cream cheese is completely melted and the dip is evenly combined.
Top with diced tomatoes and green chiles before serving warm with your favorite dipping chips.