Hvolsvöllur is a town in the south of Iceland about 106 km to the east of Reykjavík. The name of the town literally translates to "Hillfield". Hvol…Hvolsvöllur is a town in the south of Iceland about 106 km to the east of Reykjavík. The name of the town literally translates to "Hillfield". Hvoll is an archaic form of the modern Icelandic word hóll, meaning "hill", and völlur means "field". The name is derived from the name of the historic farm Stórólfshvoll.