We present status and physics motivations for the low energy extension to the IceCube Neutrino Observatory, called “DeepCore.” DeepCore will consist of at least 6 additional strings located in the center of the IceCube array of which a first string will be deployed in the upcoming polar season. Together with nearby IceCube strings, a total of 13 strings will offer a nested densely instrumented array with an interstring spacing of 72 m (to compare to the nominal 125 m spacing of IceCube). Each DeepCore string will be instrumented with 60 high quantum‐efficiency PMTs housed in standard IceCube optical modules. The majority of these will be located in the bottom part of the detector where the ice is the clearest. The use of this denser array will lower IceCube’s threshold for muon neutrinos down to energies as low as 10–20 GeV. Furthermore, the nominal array surrounding DeepCore provides a highly effective veto against atmospheric muons that allows accessibility to low energy neutrinos over 4π in solid angle. Thus DeepCore will expand and enhance IceCube’s sensitivity for studying solar WIMP dark matter, Gamma Ray Bursts (GRBs), galactic point sources on the Southern Hemisphere including the galactic center, and neutrino particle properties.