The Iceland Academy of the Arts places emphasis on enhancing cooperation with other higher education institutions in the country and various other institutions and enterprises. Its partners include: The University of Iceland, Reykjavík University, the Agricultural University of Iceland, Bifröst University, the Reykjavík Art Museum, the National Gallery of Iceland, the Living Art Museum, the Ísafjördur Music School, the Skaftfell Cultural Centre, the Iceland Symphony Orchestra, the Icelandic Opera, the Salur Music Hall, Caput, the Reykjavík City Theatre, the National Theatre, the Akureyri Theatre, the Iceland Dance Company, the Reykjavík Arts Festival and the State Broadcasting Service.
The Iceland Academy of the Arts is an active participant in international cooperation. The Academy has made bilateral agreements with about 120 higher education institutions in Europe through the Erasmus programme. Within NordPlus, the Academy cooperates with about 90 art academies in the Nordics and the Baltics. Preparations are being made for cooperation with art academies in Asia, including China, Japan and Thailand. Students can therefore complete a part of their studies in foreign places. In general, the student exchange lasts one semester. A large number of foreign exchange students also studies at the Iceland Academy of the Arts, and numerous foreign guest teachers teach at the Academy for longer or shorter periods of time.