Though American Gods depicts deities from many different cultures and religions, Norse mythology is the most predominant. Wednesday is the Norse god Odin, and Shadow is his son, and the journey Shadow embarks upon mirrors many elements of Norse mythology, particularly the stories involving Odin. Norse or Scandinavian mythology is a collection of myths, stories, and beliefs that comes from the Nordic region, having originally stemmed from Proto-Germanic folklore. Nordic folklore can be traced back to Iceland, Norway, Sweden, Denmark, parts of Great Britain and Ireland, and several other parts of Northern and Eastern Europe. This religion is built on collections of stories about gods, giants, mythical beings, and the worlds they inhabit. Rather than a single definitive text of Norse beliefs, modern scholars have assembled a loose cosmos of mythology based on sagas, poems, myths, stories, and other key texts that combine to present a cohesive (though occasionally contradictory) pantheon of gods.

Foremost among the Norse gods is Odin, a renowned magician associated with war and battle. Warriors who are killed in combat are collected and taken to an afterlife called Valhalla, where they feast and drink with Odin in his hall. Odin is typically flanked by ravens named Huginn and Muninn; in various legends, he also has a large wolf and a magical horse with eight legs.