Icelandic art has been built on northern European traditions of the nineteenth century, but developed in distinct directions in the twentieth century, influenced in particular by the unique Icelandic landscape as well as by Icelandic mythology and culture.

Contemporary Icelandic painting is typically traced to the work of Þórarinn Þorláksson, who, following formal training in art in the 1890s in Copenhagen, returned to Iceland to paint and exhibit works from 1900 to his death in 1924, almost exclusively portraying the Icelandic landscape. Þorláksson was not the only Icelandic artist learning in Denmark at that time: there were several Icelanders, both men and women, at the academy in the closing years of the century, and these included Ásgrímur Jónsson, who together with Þorláksson created a distinctive portrayal of their home country's landscape in a romantic naturalistic style.

The distinctive rendition of the Icelandic landscape by its painters can be linked to nationalism and the movement toward home rule and independence, which was very active in this period. Other landscape artists quickly followed in the footsteps of Þorláksson and Jónsson. These included Jóhannes Kjarval, Jón Stefánsson, and Júlíana Sveinsdóttir. Kjarval in particular is noted for the distinct techniques in the application of paint that he developed in a concerted effort to render the characteristic volcanic rock that dominates the Icelandic environment.

Jón Stefánsson (1881–1962) was Iceland's first modern landscape artists and one of the founders of modern art in Iceland. He was born in Sauðárkrókur. As a student he first studied engineering in Copenhagen, before turning in 1903 to art. He studied at the Teknisk Selekb Skole and at Kristian Zahrtmann's school before meeting Jean Heiberg in Norway in 1908. Together with Henrik Sørensen and Gösta Sandels they went to Paris to study under Matisse. In 1919 Jón's work was exhibited in the Kunstnernes Efterårsudstilling in the Den Frie Udstilling in Copenhagen. The National Gallery of Iceland has a large collection of Jón Stefánsson's work.