The Central American side are looking to end a four-game winless run, while their European opponents are hoping to bounce back from consecutive defeats.
Match preview
Guatemala are preparing to play their first match since rounding off 2023 with a goalless draw in November's friendly against Jamaica.
That match was the first outing since they experienced a mixed CONCACAF Nations League campaign, where they picked up four points to finish in fourth position and one point clear of the relegation zone.
Although they would have been pleased to avoid dropping down to League B, Guatemala may have been disappointed by the fact they finished their Nations League campaign with consecutive away defeats to Panama and Trinidad and Tobago.
Having won just one of their last seven internationals, Luis Fernando Tena's side will be keen to begin the new year with a victory.
However, their first objective will be to find the net after failing to score in their last three international friendlies since beating Costa Rica 1-0 in June.
Iceland will look to kick off 2024 on a positive note after experiencing a disappointing Euro 2024 qualifying campaign.
They won three, drew one and lost six of their 10 qualifiers to finish in fourth place behind Portugal, Slovakia and Luxembourg.
Although they were unable to secure a top-two spot, Iceland still have the chance to qualify for Euro 2024 due to their performance in the UEFA Nations League.
Iceland, who are hoping to qualify for their second European Championships, will face Israel in the qualifying playoffs in March, with the winner going on to face either Bosnia and Herzegovina or Ukraine.
With Iceland's next two games against Guatemala and Honduras taking place outside the useful international windows, they are unable to call upon a number of regular members of the squad, but they will still be keen to end their four-game winless run in friendlies since beating Venezuela in September 2022.
Guatemala friendly form:
Guatemala form (all competitions):
D
W
D
L
L
D
Iceland friendly form:
Iceland form (all competitions):
L
W
D
W
L
L
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Team News
Nicholas Hagen is expected to start between the posts for Guatemala, and the Colombus Crew goalkeeper could be shielded by the central defensive pairing of Kevin Ruiz and Jose Carlos Pinto.
At the opposite end of the pitch, 26-year-old striker Darwin Lom may be given the responsibility of leading the line for his country.
As for Iceland, Gylfi Sigurdsson, Saevar Atli Magnusson and Valgeir Lunddal Fridriksson all pulled out of the squad earlier this month due to injury.
Following those withdrawals, Iceland boss Age Hareide has decided to call up the trio of Birnir Snaer Ingason, Jason Dadi Svanporsson and Logi Hrafn Robertsson.
Guatemala possible starting lineup:
Hagen; Jimenez, Ruiz, Pinto, Morales; Castellanos, Dominguez-Ramirez; Santis, Galindo, Cardoza; Lom
Iceland possible starting lineup:
Valdimarsson; Thorhallsson, Bjarnason, Ingason, Finnsson; Baldursson, Traustason, Thordarson, Ingason; Gudjohnsen, Thorvaldsson