The 1969 Icelandic Cup was the 10th edition of the National Football Cup.
It took place between 12 July 1969 and 7 December 1969, with the final played at Melavöllur in Reykjavik. The cup was important, as winners qualified for the UEFA Cup Winners' Cup (if a club won both the league and the cup, the defeated finalists would take their place in the Cup Winners' Cup). Teams from the Úrvalsdeild karla (1st division) did not enter until the quarter finals. In prior rounds, teams from the 2. Deild (2nd division), as well as reserve teams, played in one-legged matches. In case of a draw, lots were drawn. From the semi-finals, after a replay, lots were drawn.
ÍBA Akureyri, who had a terrible season in the 1. Deild, won their first ever Icelandic Cup, and so qualified for Europe. In another first, the final was replayed after the first match was drawn 1-1.
| Team 1 | Team 2 | Result |
|---|---|---|
| Vestri Isafjörður | Stjarnan Gardabaer | 5 - 2 |
| þrottur Reykjavik B | FH Hafnarfjörður | 0 - 1 |
| ÍBK Keflavík B | Armann Reykjavik | 1 - 2 |
| ÍBA Akureyri B | UMF Selfoss B | 4 - 1 |
| KR Reykjavik B | þrottur Reykjavik | 5 - 2 |
| Haukar Hafnarfjörður B | UMF Njarðvík | 2 - 3 |
| Vikingur Reykjavik B | Armann Reykjavik B | 4 - 0 |
| Valur Reykjavik B | Hrönn | 4 - 0 |
| Hörður Isafjörður | Vikingur Reykjavik | 1 - 6 |
| ÍBV Vestmannaeyjar B | Haukar Hafnarfjörður | 1 - 0 |
| Völsungur Húsavík | Breiðablik Kopavogur | 3 - 0 |
| Team 1 | Team 2 | Result |
|---|---|---|
| Fram Reykjavik B | Hamar Hveragerði | 5 - 1 |
| HSH | Valur Reykjavik B | 2 - 5 |
| Völsungur Húsavík | KR Reykjavik B | 3 - 2 |
| IA Akranes B | Vikingur Reykjavik B | 6 - 1 |
| FH Hafnarfjörður B | ÍBA Akureyri B | 2 - 1 |
| UMF Selfoss | FH Hafnarfjörður | 2 - 0 |
| Vikingur Reykjavik | Breiðablik Kopavogur B | 4 - 1 |
| UMF Njarðvík | Vestri Isafjörður | 0 - 1 |
| Armann Reykjavik | ÍBV Vestmannaeyjar B | 1 - 4 |
| Team 1 | Team 2 | Result |
|---|---|---|
| Vestri Isafjörður | Valur Reykjavik (D1) | 1 - 2 |
| ÍBA Akureyri (D1) | IA Akranes B | 3 - 2 |
| Valur Reykjavik B | Völsungur Húsavík | 3 - 2 |
| KR Reykjavik (D1) | FH Hafnarfjörður B | 4 - 0 |
| UMF Selfoss | Fram Reykjavik B | 4 - 2 |
| Fram Reykjavik (D1) | IA Akranes (D1) | 0 - 3 |
| ÍBV Vestmannaeyjar B | Vikingur Reykjavik | 1 - 2 |
| ÍBV Vestmannaeyjar (D1) | ÍBK Keflavík (D1) | 1 - 0 |
| Team 1 | Team 2 | Result |
|---|---|---|
| Valur Reykjavik B | UMF Selfoss (D2) | 0 - 2 |
| Valur Reykjavik | IA Akranes | 0 - 1 |
| Vikingur Reykjavik (D2) | ÍBA Akureyri | 3 - 4 |
| KR Reykjavik | ÍBV Vestmannaeyjar (D1) | 3 - 1 (match replayed after 2–2 draw) |
| Team 1 | Team 2 | Result |
|---|---|---|
| ÍBA Akureyri | UMF Selfoss (D2) | 3 - 1 |
| ÍA Akranes | KR Reykjavik | 4 - 1 |
| ÍBA Akureyri | 1–1 | ÍA Akranes |
|---|---|---|
Valsteinn Jonsson  |
(Report) | Guðjon Guðmundsson |
| ÍBA Akureyri | 3–2 | ÍA Akranes |
|---|---|---|
| Magnus Jonatansson Eyjolfur Agustsson Kári Árnason |
(Report) | Matthias Hallgrimsson Teitur þórdarson |
