The Arctic (/ˈɑrktɪk/ f) is a polar region located at the northernmost part of the Earth. The Arctic consists of the Arctic Ocean and parts of Alaska (United States), Canada, Finland, Greenland (Denmark), Iceland, Norway, Russia, and Sweden.The Arctic region consists of a vast ocean with a seasonally varying ice cover, surrounded by treeless permafrost.he Arctic consists of the Arctic Ocean and parts of Alaska (United States), Canada, Finland, Greenland (Denmark), Iceland, Norway, Russia, and Sweden. The Arctic region consists of a vast ocean with a seasonally varying ice cover, surrounded by treeless permafrost.