The full Ring Road needs 7-10 days. In 5, the right move is an out-and-back along the south - the highest density of waterfalls, glaciers, and black-sand coast in the country - plus the Golden Circle near Reykjavik. This is that trip.
Day 1: Arrival, Reykjavik, and the Golden Circle start
Land at Keflavik, pick up the rental car, and drive to Reykjavik (45 min). If you arrive early, walk the city center and Hallgrimskirkja. Otherwise, head straight onto the Golden Circle: Thingvellir National Park, then overnight near Selfoss or Fludir. (Many people do the Blue Lagoon on arrival or departure day since it's near the airport - book ahead.)
Day 2: Golden Circle and into the south
Geysir (the erupting Strokkur) and Gullfoss in the morning. Optional: the Secret Lagoon or Kerid crater. Then drive south and east to the Selfoss-Hvolsvollur area or on to Vik. Stop at Seljalandsfoss and Skogafoss waterfalls in the afternoon. Overnight near Vik. Drive time: 2.5-3 hours plus stops.
Day 3: The south coast to Jokulsarlon
The big day. Reynisfjara black-sand beach early (before tour buses), then east past Skaftafell (a short glacier-view hike) to Jokulsarlon glacier lagoon and Diamond Beach. This is the turnaround point. Overnight near Hof or back toward Skaftafell. Drive time: about 2 hours each way from Vik, plus stops - a long, spectacular day.
Day 4: Work back west
Return toward Vik and the Hvolsvollur area, revisiting anything you rushed (Skogafoss, the DC-3 plane wreck walk, a glacier hike or ice-cave tour booked in advance). Overnight near Selfoss or Hveragerdi to be close to Reykjavik. Drive time: 3-4 hours with stops.
Day 5: Reykjavik and departure
Morning in Reykjavik - the harbor, a museum, the food hall - or the Blue Lagoon / Sky Lagoon if you didn't do it on day 1. Return the car and fly out. Keep this day loose; Iceland weather and the previous long days make a buffer welcome.
Practical notes
Rent a car (a 2WD is fine for this route in summer; check conditions and consider 4WD shoulder season). Book glacier hikes, ice caves, and the Blue Lagoon well ahead. In winter, shorten the plan and add aurora time; daylight is very limited. Fuel up when you can east of Vik - stations thin out.
Frequently asked
Can you drive the Iceland Ring Road in 5 days?
Not comfortably - the full loop needs 7-10 days. In 5 days, do the Golden Circle plus a south-coast out-and-back to Jokulsarlon, which has the best scenery-per-mile in the country.
How far is Jokulsarlon glacier lagoon from Reykjavik?
About 235 miles (5 hours of driving without stops), which is why it works as a turnaround point on a 5-day south-coast trip rather than a day trip.
Do you need a 4x4 for the south coast of Iceland?
In summer, a 2WD handles the Ring Road and this itinerary fine. A 4x4 is worth it in the shoulder and winter seasons or if you plan any F-roads (not needed for this route).
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