Lake Vikingavatn has an area of 2,4 kmē. It is rather shallow and only 4 m above sea level. It has no visible discharge and road no. 85 passes just south of it. The catch consists of brown trout and lake char. Board and lodgings are offered at the farmstead Vikingavatn, which was an estate in the past and originally owned by a farmer by the name Vikingur. He had a quarrel with the Norwegian king Harald fair hair, who sent some men to Iceland to kill him. When they arrived, Vikingur was fishing on the lake.

They killed him when he returned to shore by beheading him.  They pickled the head to preserve it as proof for the king . On their way back, they rode across the Reykjaheidi moorland and rested by a projecting mountain. When they looked at the head, it yawned so frightfully, that they buried it on the spot.

Lake Vikingavatn is also called Little Lake Myvatn because of the abundance of nesting duck species and other birds.

The distance from the capital is 524 km by the Whale Bay tunnel and 45 km from Husavik.