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The purposes of the National Olympic and Sports Association of Iceland (NOC) (abbr. ÍSÍ) are to promote, coordinate and organize sports activities, promote the development of high-performance sports as well as public sports and form, organize and lead Iceland´s delegations at the Olympic Games.

The NOC is the main organization for 32 National Sports Federations, 25 Regional Sports Districts, about 430 Clubs and over 800 Divisions. ÍSÍ´s members are over 160.000 and sport members are over 90.000 (2014). 

The most popular sports in Iceland are football, golf, equestrian, handball, basketball, badminton, athletics and Sport-for-All. The greatest growth has been in golf and equestrian sports. The sport environment has been enriched in recent years with the addition of several new sports.

At the beginning of its term of office, the Executive Board appoints standing committees and governing boards of ÍSÍ’s support divisions. There are three ÍSÍ support divisions: The Elite- and Olympic Council, the Development and Education Council and Sport-for-All. Their term of office is two years, the same as the Executive Board’s, unless otherwise decided. The ÍSÍ support divisions shall, for example, supervise the relevant categories of issues, advise the Executive Board and see to the execution of related projects.

The standing committees to be appointed shall be: The Board of Elite Athletes Fund, the Board of the Grant Fund for Young and Promising Athletes, the Medical Committee, the Doping Control Committee, the Anti-Doping Committee, the Finance Council, the Legal Committee, the Honorary Council, Athletes Commission, the Information and Media Committee and the International Relations Committee. Other committees shall be appointed at the discretion of the Executive Board.