| Season: | 1987 |
| Nextseason: | 1988 |
Statistics of Úrvalsdeild in the 1987 season.
It was contested by 10 teams, and Valur won the championship. Fram's Pétur Ormslev was the top scorer with 12 goals.
Each team played every opponent once home and away for a total of 18 matches.
| Rank | Player | Club | Goals |
|---|---|---|---|
| 1 |  Pétur Ormslev | Fram | 12 |
| 2 | Halldór Áskelsson | Þór | 9 |
| 3 | Jónas Hallgrímsson | Völsungur | 8 |
| Sveinbjörn Hákonarson | ÍA | ||
| Pétur Pétursson | KR | ||
| 6 | Björn Rafnsson | KR | 7 |
| Valgeir Bárðarson | ÍA | ||
| Sigurjón Kristjánsson | Valur | ||
| Óli Þór Magnússon | Keflavík | ||
| Kristján Kristjánsson | Þór |