The Icelandic Children's Book Prize (Íslensku barnabókaverðlaunin) is a literary prize which is awarded annually (when sufficiently good entries present themselves) by the Verðlaunasjóði íslenskra barnabóka, established by the author Ármann Kr.
Einarsson in conjunction with the publisher Vaka-Helgafell in 1985.
The prize is awarded for an unpublished manuscript of a story for children and young people or for an illustrated children's book, published in the preceding year.
The winning book is then published by Vaka-Helgafell (now part of Forlagið) during the autumn.
On two occasions (1995 and 2006), two books have won the award.