Norse mythology was highly influential to J. R. R. Tolkien in the creation of his fantasies.
The names of the Norse dwarves, or dvergar, are listed in the Völuspá, and Tolkien used these names in The Hobbit: Dwalin, Bombur, Fili, Kili and so on. Gandalf (literally translated as "magic-elf") is also the name of one of the dvergar - although Gandalf himself is modeled after the god Odin.
The final battle prophesied at the end of the legendarium is Dagor Dagorath (Final Battle) and bears many resemblances to Ragnarök (literally "fate of the Gods"), the battle which destroys the Norse world. Both battles result in a near-complete destruction of the world, from which a new world is created and the old worlds inhabitants live in after it..
The legendarium describes the creation and subsequent history of Middle-earth, which is named for the Old Norse miðgarðr. In the story of Welund Smith, the three swan-maidens flew south over Mirkwood to the place where they met Welund and his brothers.