The Iceland scallop (Chlamus islandica) is a filter feeder, taking organic materials and phytoplankton out of the water column. It was common around the whole country except on the sandy southern shore, mostly, it is found from 10-100 m depth. Scallops are unusual among the sea shells as they can swim short distances. This ability is mostly used to escape from predatory sea stars.

It was one of the most valuable invertebrate stock in Icelandic waters. For years, the catch in Iceland was about 10,000 tons but the fishery was closed in 2004 following a collapse of the primary stock in Breiðafjörður, Western Iceland. This collapse is not thought to have been caused by over-harvesting, but as a result of an infectioous disease caused by a marine protist.

The Iceland scallop is found in all the northern fjords but not in an abundance that would support commercial fishing. There are other scallop species in Icelandic waters, but only the Iceland scallop is large and abundant enough to be harvested commercially.