Co-manager Heimir Hallgrimsson has rallied his "Icelandic army" ahead of Monday's Euro 2016 clash against England.
Iceland, which has a population of only 330,000, is the smallest nation ever to grace a major tournament.
Hallgrimsson is dreaming of adding another chapter to that fairytale and said: "We've said previously that this game is a win-win game.
"They [the players] have already won the hearts of all Icelandic people for their performances.
"With a good performance against England tomorrow, they'll always be winners in my book.
"On the other hand, if we beat England their lives will change, all of our lives will change, significantly.
"If you want the best out of life, you have to be ready when the chance is there for you, and I don't think there are bigger chances than this for Icelandic football."
Hallgrimsson said the team was the nearest thing Iceland has to an army.
"We are too few to have an army, we would probably be easily defeated if we were to go to war, lacking manpower," he aded.
"So these guys are the Icelandic army, that's why everyone is supporting them."