| Election Name: | 1934 Icelandic parliamentary election |
| Country: | Kingdom of Iceland |
| Type: | parliamentary |
| Ongoing: | no |
| Previous Election: | 1933 |
| Election Date: | 24 June 1934 |
| Next Election: | 1937 |
| Seats For Election: | All 33 seats in the Lower House and 16 seats in the Upper House of Althing |
| Turnout: | 81.51% |
| Heading1: | Upper House |
| Leader1: | Jón Þorláksson |
| Party1: | Independence Party (Iceland) |
| Last Election1: | 7 |
| Seats1: | 6 |
| Percentage1: | 42.32 |
| Leader2: | Hermann Jónasson |
| Party2: | Progressive Party (Iceland) |
| Last Election2: | 5 |
| Seats2: | 6 |
| Percentage2: | 21.91 |
| Leader3: | Jón Baldvinsson |
| Party3: | Social Democratic Party (Iceland) |
| Last Election3: | 1 |
| Seats3: | 3 |
| Percentage3: | 21.70 |
| Leader4: | Tryggvi Þórhallsson |
| Party4: | Farmers' Party (Iceland, 1933) |
| Last Election4: | new |
| Seats4: | 1 |
| Percentage4: | 6.45 |
| Heading5: | Lower House |
| Leader5: | Jón Þorláksson |
| Party5: | Independence Party (Iceland) |
| Last Election5: | 13 |
| Seats5: | 14 |
| Percentage5: | 42.32 |
| Leader6: | Hermann Jónasson |
| Party6: | Progressive Party (Iceland) |
| Last Election6: | 11 |
| Seats6: | 9 |
| Percentage6: | 21.91 |
| Leader7: | Jón Baldvinsson |
| Party7: | Social Democratic Party (Iceland) |
| Last Election7: | 4 |
| Seats7: | 7 |
| Percentage7: | 21.70 |
| Leader8: | Tryggvi Þórhallsson |
| Party8: | Farmers' Party (Iceland, 1933) |
| Last Election8: | new |
| Seats8: | 2 |
| Percentage8: | 6.45 |
| Leader9: | — |
| Party9: | Independents |
| Last Election9: | 0 |
| Seats9: | 1 |
| Percentage9: | 0.96 |
| Prime Minister | |
| Before Election: | Ásgeir Ásgeirsson |
| Before Party: | Progressive Party (Iceland) |
| After Party: | Progressive Party (Iceland) |
Parliamentary elections were held in Iceland on 24 June 1934.[1] They were the first held after reforms to the electoral system that increased the number of seats in the Lower House from 28 to 33 and ensured that all members of the Althing were elected at the same election. The Independence Party emerged as the largest party in the Lower House, winning 14 of the 33 seats.
In the previous election, the 28 members of the Lower House Althing had been elected in one- or two-member constituencies by plurality voting, except in Reykjavík, where the four seats were elected by proportional representation. Eight members of the Upper House were elected at the same time as the Lower House, whilst the remaining six members were elected in separate national elections using proportional representation.[2]
The reforms raised the number of seats in the Lower House to 33, of which 11 were to be compensatory seats. The compensatory seats were awarded to parties which had won at least one of the 22 standard seats, and were allocated according to their votes received divided by the seats they had won.[3] Once allocated to a party, the seats were then allocated based on a preferential basis:[3]
Although a party could only have one compensatory seat in each constituency, this still left some constituencies over-represented.[3]
All seats in the Upper House seats were now elected at the same time as the Lower House, whilst the number was increased from 14 to 16.[4] In Reykjavík the number of seats was increased from four to six, with a subsequent lowering of the threshold to win a seat in the city. The voting age was lowered to 21, and those receiving poor relief were able to vote for the first time.[3]