1940 Úrvalsdeild
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Statistics of Úrvalsdeild in the 1940 season.
Overview
It was contested by 4 teams, and Valur won the championship. Valur's Sigurpáll Jónsson and Víkingur's Ingólfur Isebarn were the joint top scorers with 4 goals.
League standings
| Pos | Club | P | W | D | L | GF | GA | GD | Pts |
| 1 | Valur | 3 | 2 | 1 | 0 | 6 | 4 | +2 | 5 |
| 2 | Víkingur | 3 | 1 | 2 | 0 | 7 | 4 | +3 | 4 |
| 3 | KR | 3 | 1 | 0 | 2 | 6 | 6 | +0 | 2 |
| 4 | Fram | 3 | 0 | 1 | 2 | 4 | 9 | -5 | 1 |
