According to the official website: Þingvellir was declared a national park in 1930. A law was passed designating Þingvellir as a protected national shrine for all Icelanders, the perpetual property of the Icelandic nation under the preservation of parliament, never to be sold or mortgaged.

Þingvellir is part of a volcanic and fissure region created by the continental drift of the Eurasian and North American plate.