The Icelandic national final to select their entry , '' Söngvakeppni Sjónvarpsins '' , was held on 15 March at the RÚV Studios in Reykjavík , and was hosted by young musician Jónas R. Jónsson . 1985 Eurovision Song Contest winners Bobbysocks were special guests , and they performed their winning song '' La det swinge '' , and a new song entitled '' Midnight Rocks '' during the show . The votes of a five-member " expert jury " decided the winner , although only the top five placings were announced . The winning entry was " Gleðibankinn , " performed by Pálmi Gunnarsson and composed by Magnús Eiríksson
1985 Eurovision Song Contest
Eurovision Song Contest 1985
Iceland in the Eurovision Song Contest 1986