Fljótt og Gott
Large restaurant in the bus depot near the downtown airport. Large selection of prepared foods to grab for your bus ride and a large menu of hot food selections to eat in the restaurant. Reasonable prices and a fun place to hang out with working class Icelanders for those wanting a non-tourist experience. For the more daring, Svið is on the menu daily.
A bit away from the city centre, this place is very like an office cafeteria. It prides itself on selling authentic Icelandic home cooking. The sparse menu varies between days. Due to its location surrounded by offices, it caters more to a lunch than dinner and closes at 8pm weekdays, 2pm Saturdays and is not open Sundays. It also seems to stop serving main meals some hours before closing.
An extremely authentic seafood place, serves a wonderful lobster soup and offers grilled cod, whale, shrimps, salmon, etc.
Icelandic foods served in a nice large room with a view of the church. Noted for rye bread and their one of a kind rye bread ice cream.
Food in Iceland can be expensive. In order not to break the bank, you'll need to be smart when eating. On the budget side, you're mostly looking at international-type fast food options common to what you'd find in Europe and America.
10-11 is a chain of convenience stores open 24/7 with plenty of ready-to-eat items such as sandwiches, wraps, and surprisingly enough, tacos. 10-11 is always open but also more expensive than supermarkets, that's why you see most Icelanders shop for food at Bónus open 10-18, a low-cost supermarket chain. Even better, you can find a fish shop which will sell you some ridiculously fresh and absolutely delicious fish, at a very reasonable price, and cook it yourself with some potatoes and vegetables. It'll be really nice. The fish shop could be in Kolaportið, a downtown market which only opens on weekends, or alternatively you could look up one of the many fish shops fiskbúð all around town.
Try one of the Hot-Dog places that are found everywhere. This German import has become thoroughly Iceland-ized. A dog should set you back 380 kr. Ask for "Eina með öllu", a hot dog with everything on it. Deeeeelicious.
Fast food – Apart from the usual suspects such as KFC and Subway McDonald's was recently rebranded Metró by the local franchise holder, but the menu remains the same and the hot dog stands mentioned above, Reykjavík has a number of home grown fast food restaurants. In the city centre many are open 24/7 in weekends, serving the partying crowd. Names include Nonnabiti and Hlöllabátar subs and sandwiches, Kebabhúsið and Ali Baba kebabs, Serrano burritos and The Deli, Bankastræti 14, . 10-20/night time on weekends. The Deli is a gourmet trattoria, featuring regional Mediterranean cuisine as well as peciality pizzas and daily hot specials. edit You should be able to fill your stomach at each of these for 1000 kr. or less.
Thai restaurants – Thais form, along with Poles, the largest immigrant community in Reykjavík and as a result there are a lot of good and cheap Thai restaurants around the capital, often run by Thai families. You will usually get large portions without paying much more than 1000-1500 kr.. Options in central Reykjavík include Krua Thai Tryggvagata 14, Núðluhúsið Laugavegur 59, 2nd floor, Thai Grill Hagamelur 67 and Thai matstofan, Suðurlandsbraut 52
There are tons of cafes everywhere in the city that are relatively inexpensive and a great place to sit, relax, and warm up. You can also check your e-mails if you bring your computer, as there is free Wi-Fi in most of them. Kaffitar and Te & Kaffi are comparatively large chains and serve great barrista style coffee, that might however be on the expensive side.
The name of this popular hot dog stand literally means "Town's Best" and, based on the queues, it seems to deserve the name. Get one or more! with everything: fresh onions, fried onions, ketchup, remoulade and mustard. Hot dogs and drinks are all they do (http://bbp.is/)
A good central restaurant, aimed a little more toward the tourist crowd it does however deliver decent food. The lamb is good.
One of few Indian restaurants in Reykjavik. It serves very good food though and can be compared to the top tier Indian restaurants in London.
A cozy Italian restaurant with good food. They sometimes have live guitar music, which together with the dimmed lighting makes for a very romantic setting.
A small family-owned Pakistani restaurant packed into a tiny building in the oldest part of town. Delicious food, and a very friendly wait staff.
A decent fast food restaurant during the day and a happening nightclub after hours. The age limit of 22 on Friday and Saturday nights is somewhat of a buzzkill even for those of legal drinking age here. The Lobster pasta is the restaurant's signature dish and well worth tasting.
There are many fantastic fish restaurants in Reykjavik. The more expensive ones are down by the harbour or in the centre, if you're not so rich try heading towards the old town. Though generally not listed here, most bars serve some food, often better than what you would expect from the look of the place but generally with relatively uninspired menus: Expect to see a few burgers, a pasta dish or two, some salads and maybe a burrito.
Plan on at least 2,000 ISK for any meal not in a budget/fast-food restaurant. Seriously.
Á Næstu Grösum
A friendly vegetarian restaurant in the city centre, has a vegan option and attempts to use as much organic produce as possible.
Icelandic Fish & Chips
An organic bistro with a friendly atmosphere that makes a slightly healthier version of this famous fast food, so don´t expect to find any mayonnaise or Coca-Cola there. Their dishes are all home made from the freshest ingredients, by some said to be the best fish and chips in the world. The restaurant is semi self-service and child friendly, but can become very busy during summer.
Þrír frakkar hjá Úlfari
A nice seafood restaurant. Serves big meals for a moderate price. Their lunch plokkfiskur special is legendary. They serve whalemeat, both raw as sashimi and cooked, to those willing to try. This is a convenient price; whale is less expensive in other port towns. They serve a strange and delicious traditional cake, skyrterta, made from the Icelandic skyr, this cake alone is worth the visit.
It's not exactly an Icelandic tradition, but Argentína is a great place to go for quality beef steaks.
Part of a growing trend called “new Nordic food” most famously promoted by Noma restaurant in Copenhagen, this small restaurant prides itself in using local ingredients, many of them sourced from a vegetable garden next to the building.
One of the most recent additions to the flora of fish restaurants, in the basement of a recently renovated old timber house literally standing in the original harbour of Reykjavík.
Specialising in lobster the name means Lobster House and on the expensive end, but has exquisite food that the prices reflect.
A classic French restaurant that has been open for service for over forty years.
A staple of the city's up-scale dining landscape. Thick carpets, art over dark wood panels, french cuisine, an extensive wine cellar, the country's most expansive collection of single malts.
On the top of Öskjuhlíð, overlooking the city, sits Perlan with its rotating restaurant. It's an expensive place to dine but of course it's pretty unique and gives you a second-to-none view over Reykjavik so it's understandable how they can push the prices up. If you dine at the Perlan be sure to have the lamb, absolutely fantastic.