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Candidates have been working to make sure their supporters get out to their caucus sites but are also still trying to gain the support of undecided voters.
More than a third of likely caucus goers say they still haven't made up their minds.
Polls show Mitt Romney, Ron Paul and Rick Santorum at the top of the field.
Last night, Romney told supporters he expects to win and continued his attacks against President Barack Obama.
"This has been a failed presidency. And I remember after he was elected, he went on the Today Show. And he said to the commentator, 'Look, if I can't get the economy turned around in three years, I'll be looking at a one term proposition.' Well, I'm here to collect. We're taking it back," Romney said.
While he's surging in Iowa, Santorum faces a tough road ahead.
He says he will compete aggressively in New Hampshire, but his cash-strapped campaign admits it can't afford television ads.
Meanwhile, Paul said he doesn't envision himself in the White House.
He admitted the odds of his winning the nomination are slim, but said he was as much rallying a movement to change politics in America as he was campaigning for president.
"Economic liberty is important because individual liberty is important. And our founding Jefferson stated very clearly that our lives are gifts from our God and therefore your income, the fruits of your labor should be yours and not the government's to spend," Paul said.
Former frontrunner Newt Gingrich told supporters he does not expect to win Iowa, blaming the "volume of negativity" in recent days.
However, during an appearance on CNN, Gingrich said he's encouraged by the high number of undecided voters.
Meantime, Rick Perry rallied supporters this morning in Des Moines as Michele Bachmann released her first and only campaign ad, reminding voters of her Iowa roots.
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