The study presents a comparative analysis of eight Vegetation Indices (VIs) used to examine vegetation greenness over the northern coasts of Iceland. The geographical extent of the study area is set by the coordinates of the two fjords, Eyjafjörður and Skagafjörður, notable for their agricultural significance. Vegetation in Iceland is fragile due to the harsh climate, climate change, overgrazing and volcanic activity, which increase soil erosion. The study was conducted on a Landsat TM image using SAGA GIS as a technical tool for raster bands calculations. The NDVI dataset shows a range from -0.56 to 0.24, with 0 indicating ‘no vegetation’, and negative values – ‘other surfaces’ (e.g. rocks, open terrain). The DVI, compared to the NDVI, shows statistically non-normalized values ranging from -112 to 0, with extreme negative values while the coastal vegetation areas are badly distinguished from the water areas. The NRVI shows an extent from -0.24 to 0.48 with higher values for vegetation. The NRVI reduces topographic, solar and atmospheric effects and creates a normal data distribution. RVI shows a range in a dataset from 0.2 to 3.2 with vegetation in the river valleys clearly visible and depicted, while the water areas have values 0.8 to 1.0. The CTVI shows corrected TVI, in a data range -0.10 to 1.10, as the dataset of NDVI were negative. The TVI dataset ranges from 0.44 to 0.80 with the ice-covered areas and glaciers distinguishable and water values within a range from 0.60 to 0.64 and the vegetation from 0.60 to 0.44. The TTVI dataset ranges from 0.40 to 0.80 performing similarly to the TVI, but more refined with vegetation values 0.64 to 0.68. SAVI dataset ranges from -0.80 to 0.30 with minimized effects of soil on the vegetation through a constant soil adjustment factor added into the NDVI formula. The paper presents a comparison of eight VIs for Arctic vegetation monitoring. The overall behavior of SAGA GIS in calculation and mapping of the VIs is effective in terms of their use for vegetation mapping of the region.