The tectonic basement of the Eurasian Arctic shelf is a combination of tectonic blocks. The basement comprises crystalline metamorphic and igneous assemblages along with intensely deformed and metamorphosed stratified assemblages. In contrast to an oceanic basement which is primarily igneous a continental basement has been originated as a result of the assembly of previously geodynamically variable terranes into a relatively stable regional tectonic domain (superblock or superterrane). A series of superblocks varying in the consolidation age has been mapped: Pre-Riphean, Grenvillian, Riphean, Caledonian, Ellesmerian, Hercynian, and Late Mesozoic. Earlier consolidated rigid blocks have been captured within the superblocks. There are extensive areas of deeply submerged basement (more than 10 km) and the composition is believed to be of oceanic type. The basement superblocks have undergone constructive and destructive alterations through the post consolidation history. Large scale constructive processes took place in the west in the Ordovician-Devonian and in the Carboniferous to Early Jurassic, and the late Mesozoic in the east. Major destructive events took place in the Devonian to early Carboniferous, in the late Permian to Triassic, in the late Jurassic to early Cretaceous, and from the late Cretaceous to Recent. The main aim of this paper is to provide constraints and to indicate a starting point for building models of geodynamic evolution of the Arctic.