The smallest nation to ever play in the tournament will be aiming to cause a massive shock against one of the favourites, whilst Lionel Messi and Co. will be hoping to dispel some of the doubts that surround the side with a strong performance.
The draw, which would be celebrated as a huge result by the Europeans, is priced at 4/1 (5.00).
Argentina lost their first choice goalkeeper Sergio Romero to injury just before the tournament and Chelsea stopper Willy Caballero is likely to replace Romero in the opening game against Iceland.
Their extremely talented forward line is expected to be made up by Lionel Messi, Angel Di Maria and Sergio Aguero.
There are plenty of doubts over this Argentina side, but any team with an in-form Messi has the capacity to win matches even if they do not play well.
The South Americans are likely to concede goals and there is every chance that Iceland find the back of the net.
Heimir Hallgrimsson's side have scored five times in their last three friendlies, while Argentina kept just four clean sheets in their last ten CONMEBOL qualifiers.
Tips and predictions
The price of 14/5 (3.80) for Argentina to win and both teams to score looks like an extremely tempting option.
Jorge Sampaoli's side should have too much for the World Cup debutants although Iceland should make them work, and this selection is available at a healthy price.
For bigger odds, Iceland are priced at 11/2 (6.50) to score over 1.5 goals.