This section needs additional citations for verification. The modern method is simply to press the shark's meat in a large plastic container, into which drain holes have been cut. The traditional preparation process may be observed at Bjarnarhöfn Shark Museum on Snæfellsnes. During this drying period, a brown crust will develop, which is removed prior to cutting the shark into small pieces and serving. Following this curing period, the shark is cut into strips and hung to dry for several months.

The shark ferments in this fashion for six to twelve weeks, depending on the season. The shark is then covered with sand and gravel, and stones are placed on top of the sand in order to press the fluids out of the body. The traditional method begins with gutting and beheading a shark and placing it in a shallow hole dug in gravelly sand, with the cleaned cavity resting on a small mound of sand. However, when properly processed, it may be consumed safely. The meat of the Greenland shark is poisonous when fresh because of its high urea and trimethylamine oxide content. 'glassy shark') from the belly, and white and soft skyrhákarl (, lit. Hákarl comes in two varieties: chewy and reddish glerhákarl (, lit. It is often eaten with a shot of the local spirit, a type of akvavit called brennivín. First-timers are sometimes advised to pinch their nose while taking the first bite, as the odor is much stronger than the taste. Those new to it may gag involuntarily on the first attempt to eat it because of the high ammonia content. It is often served in cubes on toothpicks.

Fermented shark contains a large amount of ammonia and has a strong smell, similar to that of many cleaning products.

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