Djúpivogur is a small town and municipality located on a peninsula in the Austurland region in eastern Iceland, near the island of Papey and on the fjord Berufjörður. The municipality was formed by the merger of rural communities Berunes, Buland, and Geithellur on October 1, 1992. The coastline consists of three fjords Berufjörður, Hamarsfjörður, and Álftafjörður. The town of Djúpivogur is located on a peninsula between Berufjörður and Hamarsfjörður.

Approximately 900 m west of the town is a work of art named "Eggin í Gleðivík" (The Eggs of Merry Bay) by Sigurður Guðmundsson. The work is a replica of the eggs of 34 nesting birds in the area, and was installed in the summer of 2009.

Djúpivogur is home to Langabúð, one of Iceland's oldest commercial buildings. The south end dates back to 1790, but the building only took on its present appearance when the northern part was constructed in 1850. Langabúð served many purposes, being a warehouse and slaughterhouse. Today, it is home to a café, the heritage museum and an exhibition on the Icelandic sculptor Ríkarður Jónsson, who was native to the village.

The Æðarstein Lighthouse is located on the southeast coast of Iceland, on a rocky point on the west side of the port of Djúpivogur.

The lighthouse consists of a square concrete tower, painted orange. A red metal lantern house is placed on top of the tower. The focal plane of the light is 10 m (33 ft). The overall height of the tower, including the lantern, is 10 m (33 ft). The lighthouse is automated. The site (but not the tower) is open to visitors.

The Æðarstein Lighthouse was built in 1922. The architect and engineers were architect engineer Thorvald Krabbe and Gudmundur J. Hlíðdal. Before 1966 the lighthouse was white with two horizontal stripes. The light was converted to electric power in 1987. The light flashes every 5 seconds. The flash is a white, green or red sector light.