The authors present a proposal for a nature reserve encompassing the entire archipelago of Franz‐Josef Land. To this end an expedition was mounted by VNIIPriroda in 1980–81, concentrating particularly on Graham Bell Island and Hooker Island. A general outline of the geography, geology, fauna and flora of the archipelago is presented, largely on the basis of that expedition. The authors conclude that establishment of a nature reserve is urgently required to protect nesting grounds of ivory gulls and eiders, sea‐bird cliff colonies, polar bear denning sites, walrus hauling‐out sites and polynyas important to pinnipeds and whales, as well as a range of historic sites pertaining to the exploration of the archipelago, in the face of increasing economic activity on the islands.