We apply two different time series analytical tools to 8180 records from two Svalbard ice cores. One ice core is from Lomonosovfonna at 1250 m a.s.l. and the other from Austfonna at 750 m a.s.l. These cores are estimated to cover at least the past 800 years and have been dated using a combination of known reference horizons and glacial modelling. Wavelet analysis reveals low frequency oscillations on the 60-120-year scale on the lower elevation site Austfonna while the higher altitude site on Lomonosovfonna does not reveal such variability throughout the record. The second method, Significant Zero Crossing of Derivates (SiZer) does not resolve the low-frequency periodicity seen in the wavelet analysis. The low-frequency variability resolved by the wavelet analysis is similar to what has been found in various climate records including instrumental temperatures and tree-rings, and has been proposed as the most important oscillation for the observed trends in Arctic air temperatures.