The Eurasian Basin, is one of the two major basins into which the North Polar Basin

North Polar Basin

The North Polar Basin is an oceanic basin in the Arctic Ocean, consisting of two main parts, the Amerasian Basin and the Eurasian Basin , which are separated by the Lomonosov Ridge, a mid-ocean ridge running between north Greenland and the New Siberian Islands...

 of the Arctic Ocean

Arctic Ocean

The Arctic Ocean, located in the Northern Hemisphere and mostly in the Arctic north polar region, is the smallest and shallowest of the world's five major oceanic divisions...

 is split by the Lomonosov Ridge

Lomonosov Ridge

The Lomonosov Ridge is an unusual underwater ridge of continental crust in the Arctic Ocean. It spans 1800 km from the New Siberian Islands, as it is part of Eurasia, over the central part of the ocean to Ellesmere Island of the Canadian Arctic Archipelago. The width of the Lomonosov Ridge varies...

 (the other one being the Amerasian Basin

Amerasian Basin

The Amerasian Basin is one of the two major basins into which the North Polar Basin of the Arctic Ocean is split by the Lomonosov Ridge . It extends from Ellesmere Island to the East Siberian Sea...

). It is an extension of the North Atlantic Basin. It is further split by the Nansen-Gakkel Ridge into the Nansen Basin and the Fram Basin

Fram Basin

Fram Basin is the lowest point of the Arctic Ocean at a depth of 4,665 m.The Fram Basin is a part of the Eurasian Basin, and lies between the Nansen Cordillera and the Lomonosov Ridge. The Barents Abyssal Plain is located at the center of the Fram Basin....

. The latter basin is the deepest one of the Arctic Ocean and has the geographic North Pole

North Pole

The North Pole, also known as the Geographic North Pole or Terrestrial North Pole, is, subject to the caveats explained below, defined as the point in the northern hemisphere where the Earth's axis of rotation meets its surface...

 located over its floor.

It is bounded from the South by Greenland

Greenland

Greenland is an autonomous country within the Kingdom of Denmark, located between the Arctic and Atlantic Oceans, east of the Canadian Arctic Archipelago. Though physiographically a part of the continent of North America, Greenland has been politically and culturally associated with Europe for...

, Svalbard

Svalbard

Svalbard is an archipelago in the Arctic, constituting the northernmost part of Norway. It is located north of mainland Europe, midway between mainland Norway and the North Pole. The group of islands range from 74° to 81° north latitude , and from 10° to 35° east longitude. Spitsbergen is the...

 archipelago and Taymyr Peninsula

Taymyr Peninsula

The Taymyr Peninsula is a peninsula in the Far North of Russia, in the Siberian Federal District, that forms the northernmost part of mainland Eurasia and Asia...

. Its maximum depth is over 12,780ft. The continental shelf

Continental shelf

The continental shelf is the extended perimeter of each continent and associated coastal plain. Much of the shelf was exposed during glacial periods, but is now submerged under relatively shallow seas and gulfs, and was similarly submerged during other interglacial periods. The continental margin,...

 around the Eurasian Basin is very narrow, averaging 23-58 mi.

It is believed to be of Cenozoic

Cenozoic

The Cenozoic era is the current and most recent of the three Phanerozoic geological eras and covers the period from 65.5 mya to the present. The era began in the wake of the Cretaceous–Tertiary extinction event at the end of the Cretaceous that saw the demise of the last non-avian dinosaurs and...

origin: it was created about 63 m.y. ago by the spreading of the sea floor.