Contaminants have been analyzed in cod (Gadus morhua) since 1990 as part of the national monitoring program for the environmental conditions in the sea around Iceland. The aim of this study was to determine the temporal trends of persistent organic pollutants (POPs: polychlorinated biphenyls (PCBs), p,p′-dichlorodiphenyl dichloroethene (p,p′-DDE), hexachlorobenzene (HCB), hexachlorocyclohexanes (HCHs), chlordanes (CHLs) and toxaphenes (Tox)) and trace elements (As, Cd, Cu, Hg, Pb, Se and Zn) in cod over the last two decades at two different locations in the Arctic Ocean north of Iceland. The relationship between the contaminant concentrations and biological covariates was also determined. All of the POPs showed decreasing trends but the trace elements showed no clear signs of trend except arsenic which showed an increasing trend and zinc which showed a decreasing trend. The concentration of the POPs were lower or similar in the Icelandic cod compared to cod sampled in Norway, the Barents Sea and in the Baltic Sea, except for HCB which was higher in the Icelandic cod compared to the Norwegian cod. The concentration of the trace elements As, Cu, Hg and Zn were similar in the Icelandic cod compared to cod sampled in Norway and Greenland but the concentration of Cd was higher in the Icelandic cod. The inclusion of the biological covariates was found to be important for the statistical analysis. The POPs had a positive relationship with liver fat content but negative relationship with liver weight. The trace elements had a negative relationship with liver fat and liver weight except As which had positive relationship with liver weight. Only positive relationships were observed between the contaminant concentrations and length.