Talks began nearly three years ago but have now been called off.
Fish and fish products make up 70 percent of the country’s exports and fishing rights are the most contentious issue in negotiations.
The prime minister says no date has been set yet for the referendum.
But a report will be presented to parliament on the status of accession talks and the current situation in the EU as this has changed since Iceland originally applied.
Benediktsson’s party won 26.5 percent of the vote, giving it 19 seats in the 63-seat parliament.
The country’s banking system collapsed but export strength means Iceland has made a good recovery since then.
Opinion polls suggest the majority of the population are now against joining, fearing their fishing rights may be eroded.