This paper will investigate visions of early twentieth-century Arctic colonialism, as espoused by two prominent North American explorers: Robert Peary and Vilhjalmur Stefansson. A self-positioned anthropologist, Stefansson urged his settler audiences to appreciate the sophistication of Indigenous Arctic people's technology and survival skills, even as he recruited business leaders and politicians to his plans to use Inuit homelands as sites of agricultural colonialism. In particular, he worked to establish commercial reindeer and muskoxen cultivation for meat and fur, though his efforts were thwarted by legal and financial challenges. Peary's visions for U.S. colonization in the Arctic, meanwhile, included specific eugenic-minded plans for cultivating a race of individuals fit to steward high-latitude colonies. By examining the colonial schemes of these two celebrated public figures, this paper will investigate the intertwining of geographical exploration and science with a particular form of capitalist, colonial imagination that speaks to the ambitions of the United States and Canada in the early twentieth century.