The paper presents a new multiplier enabling achievement of an arbitrary accuracy. It follows the same idea of number representation as the Mitchell’s algorithm, but does not use logarithm approximation. The proposed iterative algorithm is simple and efficient and its error percentage is as small as required. As its hardware solution involves adders and shifters, it is not gate and power consuming. Parallel circuits are used for error correction. The error summary for operands ranging from 8-bit to 16-bit operands indicates a very low error percentage with only two parallel correction circuits. Key words: Computer arithmetic, digital signal processing, multiplier, logarithmic number system Iterativni logaritemski mnoˇzilnik Povzetek. V ˇclanku predstavimo izvedbo logaritemskega mnoˇzilnika, ki nam omogoˇca nastavljivo natanˇcnost. Mnoˇzilnik je zasnovan na Mitchellovem postopku mnoˇzenja in uporabi logaritemske predstavitve podatkov [1]. Mnoˇzenje je ˇcasovno zahtevna opera...