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At the beginning of the collection in the Codex Regius stands the Voluspo, the most famous and important, as it is likewise the most debated, of all the Eddic poems. Another version of it is found in a huge miscellaneous compilation of about the year 1300, the Hauksbok, and many stanzas are included in the Prose Edda of Snorri Sturluson. The order of the stanzas in the Hauksbok version differs materially from that in the Codex Regius, and in the published editions many experiments have been attempted in further rearrangements. On the whole, however, and allowing for certain interpolations, the order of the stanzas in the Codex Regius seems more logical than any of the wholesale "improvements" which have been undertaken.

The general plan of the Voluspo is fairly clear. Othin, chief of the gods, always conscious of impending disaster and eager for knowledge, calls on a certain "Volva," or wise-woman, presumably bidding her rise from the grave. She first tells him of the past, of the creation of the world, the beginning of years, the origin of the dwarfs (at this point there is a clearly interpolated catalogue of dwarfs' names, stanzas 10-16), of the first man and woman, of the world-ash Yggdrasil, and of the first war, between the gods and the Vanir, or, in Anglicized form, the Wanes. Then, in stanzas 27-29, as a further proof of her wisdom, she discloses some of Othin's own secrets and the details of his search for knowledge. Rewarded by Othin for what she has thus far told (stanza 30), she then turns to the real prophesy, the disclosure of the final destruction of the gods. This final battle, in which fire and flood overwhelm heaven and earth as the gods fight with their enemies, is the great fact in Norse mythology; the phrase describing it, ragna rök, "the fate of the gods," has become familiar, by confusion with the word rökkr, "twilight," in the German Götterdämmerung. The wise-woman tells of the Valkyries who bring the slain warriors to support Othin and the other gods in the battle, of the slaying of Baldr, best and fairest of the gods, through the wiles of Loki, of the enemies of the gods, of the summons to battle on both sides, and of the mighty struggle, till Othin is slain, and "fire leaps high