The current President ,Mr. 'olafur Ragnar Grímsson, is on the ballot .
There are also five others on the ballot.
Mr. Ólafur has been president for four terms, or, 16 years.
It has been easy for him for the last four terms,but now, there is a fight for the President seat.
One of the contenders now is Þóra Arnþórsdóttir ,and it looks like she could be giving the president a hard time today .
Þóra is young and has been working in the media , and is a popular Tv celebrety.
Many say that the election today is about , should Iceland join the EU.
But both ,Þóra and Ólafur , say that if the is an EU contract on the table , then it would go for a National Referendum.
And the weather for voting is excellent, calm,warm and clear skies .
Tonight , as on every voting night in Iceland , there will be a lot of parties and lots of alcohol used this evening and night .
If Þóra wins the election , then there will be an interesting sitution here in Iceland.
All of the top posts in Icelands goverment will be held by women.
The PM, the Finance Minister,the president of Parliament,the State Bishop,and the President , all women .