Holuhraun is situated at the southern end of Ódáðahraun, which is one of the largest lava fields in the country. The main volume of the Jökulsá á Fjöllum river flows from the eastern side of Holuhraun, in the Kverkfjöll area. Hrimalda, Urðarháls and Kistufell are to the west of Holuhraun, with Dyngjuháls and Trölladyngja beyond. The Dyngjujökull glacier, which is part of Vatnajökull, is to the immediate south. Holuhraun is about south of the Askja caldera, and the Bárðarbunga volcano is to the south-west of Holuhraun. Holuhraun is traversed by an unnumbered road, which connects to the Route F910 gravel road at both the east and the west ends.