Cook manicotti according to package directions for al dente; drain. Preheat oven to 350°.
Pour 1 cup sauce into an 11x7-in. baking dish. On a short side of each ham slice, layer one basil leaf, one piece string cheese and three slices pepperoni; roll up. Insert in manicotti shells; arrange in a single layer in baking dish.
Pour remaining sauce over top. Sprinkle with olives and Parmesan cheese. Bake, uncovered, 25-30 minutes or until heated through. Freeze option: Cover unbaked casserole and freeze for up to 3 months. Thaw in the refrigerator overnight. Remove from the refrigerator 30 minutes before baking. Cover and bake at 375° for 25-30 minutes or until pasta is tender. Let stand for 10 minutes before serving.