| Competition: | Meistaradeildin |
| Season: | 1942 |
| Winners: | KÍ Klaksvík (1st title) |
| Matches: | 12 |
| Total Goals: | 54 |
| Nextseason: | 1943 |
1942 Meistaradeildin was the inaugural season of Meistaradeildin, the top tier of the Faroese football league system. It was performed in knockout rounds rather than in a league format. KÍ Klaksvík defeated TB Tvøroyri by 4–1 in the championship final.
The first leg was played on 21 June and the second leg on 28 June.|}
The first leg was played on 5 July and the second leg on 19 July.|}
The first leg was played on 14 June and the second leg on 28 June.|}
The first leg was played on 12 July and the second leg on 19 July.|}
The match was played on 14 June. A second leg was planned to be played on 21 June, but SVB withdrew after the first leg.[1] |}
The match was played on 28 June. A second leg was planned to be played on 5 July, but Royn withdrew.[2] |}
Match played on 26 July.|}
The match was played on 29 July.|}