In the paper purposes and tasks of Iceland's Arctic policy are analyzed. From 2002 to 2004 it had been the first time Iceland was the chairman of the Arctic Council (AC, the Council). In 2019, its second terms in office has begun and its will have expire by 2021. In the paper the current result of the new chairman's activity is considered. In conclusions authors state that the country focuses on environmental protection in the polar region, preventing ocean contamination and acidification, preservation of biodiversity, besides, development of fishery is quite important for Iceland.