Germany on the other hand needed post-match penalties to edge out Italy 6-5 on Saturday night.
With Iceland coming into the match with a big reputation of having edged out England in the round of 16, the French were keen to get in charge quickly and avoid any embarrassing moments.
This they did with two quick goals from Olivier Giroud and Paul Pogba who scored to settle their nerves early as well as put them in complete control of the match.
France were not done yet and two more goals one each from Dimitri Payet and Antoine Griezmann ensured that they had a 4-0 advantage at the break.
But Iceland refused to give up and after the restart pulled one goal back when Kolbeinn Sigthorsson scored. But it did not last long as France restored their four-goal advantage from an Oliver Giroud header.
Then Iceland grabbed a second when Birkir Bjarnason headed home in the final stages of the match to ensure his side now out with dignity.
On Saturday, Germany needed post-match penalties to send home Italy after the two teams drew 1-1 in normal time.
The World Champions looked on course to win in regular time after they were put ahead by Mesut Ozil in the 65th minute but Leonardo Bonucci scored for Italy from a penalty ten minutes later to send the match into extra time where no goals were scored.
Germany goalkeeper Manuel Neuer saved two penalties during the shoot-out to send his side to the last four.
On Friday, Wales registered perhaps their biggest result in football after sending out Belgium 3-1 to make it to the semi-finals of a major tournament for the first time.
Wales recorded the greatest night in their football history as they came from a goal down to beat Belgium at Euro 2016 and reach the semi-finals of a major tournament for the first time.
It was Belgium who went ahead first when Radja Nainggolan scored the opener for them.
Wales however equalised through team captain Ashley Williams and added two more goals through Hal Robson-Kanu and substitute Sam Vokes.