| Country: | Kingdom of Iceland |
| Type: | parliamentary |
| Previous Election: | August 1916 |
| Election Date: | 21 October 1916 |
| Next Election: | 1919 |
| Seats For Election: | All 26 seats in the Lower House 8 of 14 seats in the Upper House |
| Turnout: | 49.18% (24.90pp) |
| First Election: | yes |
| Heading1: | Upper House |
| Leader1: | Jón Magnússon |
| Party1: | Home Rule Party (Iceland) |
| Seats1: | 7 |
| Percentage1: | 39.95 |
| Leader2: | Ólafur Briem |
| Party2: | Farmers' Party (Iceland, 1913) |
| Seats2: | 1 |
| Last Election2: | new |
| Percentage2: | 8.79 |
| Leader3: | Disputed |
| Party3: | Independence Party (Iceland, historical) |
| Seats3: | 2 |
| Percentage3: | 7.60 |
| Leader4: | Einar Arnórsson |
| Party4: | Independence – Þversum |
| Seats4: | 3 |
| Last Election4: | new |
| Percentage4: | 7.03 |
| Leader5: | Sigurður Jónsson |
| Party5: | Independent Farmers |
| Seats5: | 1 |
| Last Election5: | new |
| Percentage5: | 4.15 |
| Heading6: | Lower House |
| Leader6: | Jón Magnússon |
| Party6: | Home Rule Party (Iceland) |
| Seats6: | 8 |
| Percentage6: | 39.95 |
| Leader7: | Sigurður Eggerz |
| Party7: | Independence – Langsum |
| Seats7: | 3 |
| Last Election7: | new |
| Percentage7: | 15.71 |
| Leader8: | Ólafur Briem |
| Party8: | Farmers' Party (Iceland, 1913) |
| Seats8: | 4 |
| Last Election8: | new |
| Percentage8: | 8.79 |
| Leader9: | Disputed |
| Party9: | Independence Party (Iceland, historical) |
| Seats9: | 1 |
| Percentage9: | 7.60 |
| Leader10: | Einar Arnórsson |
| Party10: | Independence – Þversum |
| Seats10: | 6 |
| Last Election10: | new |
| Percentage10: | 7.03 |
| Leader11: | Jón Baldvinsson |
| Party11: | Social Democratic Party (Iceland) |
| Seats11: | 1 |
| Last Election11: | new |
| Percentage11: | 6.77 |
| Party12: | Independent Farmers |
| Seats12: | 1 |
| Last Election12: | new |
| Percentage12: | 4.15 |
| Leader13: | — |
| Party13: | Independents |
| Seats13: | 2 |
| Percentage13: | 10.01 |
| Minister for Iceland | |
| Posttitle: | Prime Minister after August and October elections |
| Before Election: | Einar Arnórsson |
| Before Party: | Independence - Þversum |
| After Party: | Home Rule Party (Iceland) |
Parliamentary elections were held in Iceland on 21 October 1916.[1] Voters elected all 26 seats in the Lower House of the Althing and eight of the fourteen seats in Upper House,[2] the other six having been elected in August. The Home Rule Party emerged as the largest party in the Lower House of the Althing, winning eight of the 26 seats.