| Eurovision Song Contest 1986 | ||||
|---|---|---|---|---|
| Participating broadcaster | Ríkisútvarpið (RÚV) | |||
| Country |  Iceland | |||
| National selection | ||||
| Selection process | Artist: Internal selection Song: Söngvakeppni Sjónvarpsins 1986 | |||
| Selection date(s) | Artist: 20 March 1986 Song: 15 March 1986 | |||
| Selected artist(s) | ICY | |||
| Selected song | "Gleðibankinn" | |||
| Selected songwriter(s) | Magnús Eiríksson | |||
| Finals performance | ||||
| Final result | 16th, 19 points | |||
| Iceland in the Eurovision Song Contest | ||||
| ||||
Iceland was represented at the Eurovision Song Contest 1986 with the song "Gleðibankinn", written by Magnús Eiríksson, and performed by the band ICY. The Icelandic participating broadcaster, Ríkisútvarpið (RÚV), selected its entry through a national final and, subsequently, the performers internally once the national final was over. This was the first-ever entry from Iceland in the Eurovision Song Contest, and the first-ever entry performed in Icelandic in the contest.