The 15-year-old, who can't be named under the Youth Justice Act, was charged with arson on Dec. 11.
Police couldn't comment
Because the investigation is ongoing the police couldn't comment on the charges.
"We are continuing to follow any leads we have," said Const. Chris Coles, media liaison for the RCMP.
"At this point we have evidence to support one charge of arson," he added.
The fire occurred on Oct. 30. Police say a couch was carried to the back door of Nakasuk school and set ablaze.
The Iqaluit fire department put out the fire, which caused minor damages.
The young person will appear in court Feb. 2.