This paper is based on the results of the study of soils and soil-forming rocks on five key sites in Iceland, including the coastal plain (the Hvammur key site), piedmont plain (the Hverageroi key site), the Holocene lava plateau (the Reykjanes key site), and the zone of modern hydrothermal activity in the north of the rift zone of Iceland (the Theistareykir and Naimafjall key sites). The studied soils are subdivided by us into the groups of exothermic and endothermic soils. Exothermic soils are the soils that develop from the congealed volcanic deposits. These soils are specified by the homogeneous dark gray color and sandy texture. Their mineral components are weakly transformed. Exothermic soils developed under good drainage conditions have the low content of organic matter (about 1.5% C-org). The soil reaction is neutral within the entire profile. Under impeded drainage conditions, the organic carbon content in the exothermic soils reaches its maximum of about 7%, and the soil reaction varies from acid to neutral values. Endothermic soils are the soils that are subjected at present or were subjected in the past to the high-temperature hydrothermal metamorphism. They have mottled color patterns with sharp color contrast in the soil profile; their texture is loamy or clayey. These soils are rich in secondary minerals with a predominance of smectite; kaolinite, pyrite, anatase, gypsum, and other secondary minerals can also be found in them. The properties of endothermic soils are largely controlled by the provincial features of the hydrothermal activity, including the chemical composition of hydrothermal water, the soil temperature, the duration of hydrothermal activity, etc.