This paper presents results obtained from data on the greater silver smelt Argentina silus in Icelandic waters collected by the Marine Research Institute, Iceland, mainly since 1981. The greater silver smelt is most abundant in the waters off the south‐east coast of Iceland clockwise to those off the west coast, but the species has also been observed off the north coast. Differences in the size composition in relation to area and depth are described. The preferred depth range of the greater silver smelt was found to be 300‐600 m and the preferred temperature was about 6°C. Ageing is described showing a relatively fast growth up to the age of 8‐9 years. The age/length and length/weight relations are given. Females grow faster than males. The 50% maturity point is reached by males at a length of 36‐37 cm and at an age of approximately 8 years, and by females at a length of 37‐38 cm and approximately 9 years. Spawning takes place to some extent year round but with one or two periods of greater intensity. Results from experimental fishing are described and problems in connection with a Commercial fishery are discussed.