Microorganisms have been the source of many chemotherapeutics used in cancer treatment, and amongst them, actinomycetes are the most promising source organisms. Actinomycetes account for about 45% of all microbial secondary metabolites, of which 7600 (80%) are produced by Streptomyces (Bérdy 2005). Over the years, the rate of discovery of new bioactive compounds has reduced, but the rediscovery of known compounds has increased (Fenical et al. 1999). Hence there is a need for bioprospecting of unexplored or underexplored habitats for unique and rare microorganisms, as these can be expected to yield a higher percentage of novel metabolites with desirable bioactivities (Bredholt et al. 2008; Pathom-aree et al. 2006). The Arctic region remains one of the least well-explored geographical locations on Earth for novel bioactive metabolites. Herein, we report on the isolation and screening of actinomycetes from sediment collected from an Arctic fjord and discovery of the production of potential anticancer natural products.