New data on paleomagnetism and isotope geochronology of Jurassic and Early Cretaceous basic igneous rocks on Franz Josef Land Archipelago (FJL) represented by flows and dikes are discussed. The first paleomagnetic data obtained for these rocks offer the opportunity to suggest a model of spatial changes in the FJL block position during the Jurassic‒Cretaceous. In the Early Jurassic, the block occupied a different position relative to Europe from the modern one. It was displaced in the northeasterly direction by a distance of approximately 500 km and rotated clockwise by about 40° relative to its modern position. By the Early Cretaceous, the FJL block occupied a position close to the present-day one avoiding subsequent substantial relative displacements. The data obtained are of principal significance for reconstructing the geodynamic evolution of Arctic structures in the Mesozoic and contribute greatly to the base of paleomagnetic data for the Arctic region, development of which is now in progress.