Volcanoes continue to have had a profound influence on live in Iceland, and volcanic activity that began in 2021 on the Reykjanes Peninsula in SW-Iceland poses major societal challenges. Repeated eruptions, and intrusions of magma have occurred inside the crust, releasing forces that have accumulated due to the movements of the tectonic plates in Iceland, causing ground fracturing with devastating effects in the town of Grindavík. Geologic history indicates that more activity is to come in this part of Iceland, as volcanic activity in the last 3000 years there is characterized by eruptive periods of a few hundred years, separated by 800–1000 years of no eruptive activity. An overview of recent volcanic events and their origin, as well general outlook for volcanic activity in Iceland, will be presented.