Bodvarsson's side kick off their campaign with a match against Argentina on Saturday, before facing Nigeria and Croatia in their remaining Group D matches.
The striker, who finished as Reading's joint-top scorer last term with 10 goals, said that he "can't wait" to be involved in the tournament.
"I can't wait," the 26-year-old told the Reading Chronicle. "It's been a journey with the national team and to actually be playing on as big a stage as the World Cup is unreal.
"It's a bit surreal really. As a kid I played in this little town called Selfoss and just enjoyed life, imagining things that you'd be in a World Cup tournament or the Euros.
"To be there is a bit surreal, but it'll be a fantastic experience and hopefully we'll do something good."
Iceland prepared for their first World Cup with a 3-2 defeat to Norway and a 2-2 draw with Ghana.