| Nextseason: | 1999–2000 |
| DHL deild karla1 | |
| Extra Information: | 1 Sponsored league name, referring to Úrvalsdeild karla. |
| T Bg: |
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| T Color: | white |
| Champions: | Keflavík (5th title) |
| Runners Up: | Njarðvík |
| Semifinalists: | KFÍ, Grindavík |
| Relegated: | Valur |
| Teams: | 12 |
| Duration: | October 1, 1998 – April 22, 1999 |
| Finals Mvp N: | Iceland |
| Finals Mvp Link: | Úrvalsdeild Men's Playoffs MVP |
| Award4: | Domestic MVP |
| Award4 Link: | Úrvalsdeild Men's Domestic Player of the Year |
| Award4 Winner: | Falur Harðarson |
| Award4 N: | ISL |
| Award5: | Foreign MVP |
| Award5 Link: | Úrvalsdeild Men's Foreign Player of the Year |
| Award5 N: | USA |
| Top Scorer: | John Woods |
| Ppg: | 30.5 |
| Ppg N: | USA |
| Rebounds Leader: | Rob Wilson |
| Rpg: | 14.6 |
| Rpg N: | USA |
| Assists Leader: | Warren Peebles |
| Apg: | 8.3 |
| Apg N: | USA |
| Top Seed: | Keflavík |
The 1998–99 Úrvalsdeild karla was the 47th season of the Úrvalsdeild, the top tier men's basketball league on Iceland. The season started on October 1, 1998 and ended on April 22, 1999. Keflavík won its fifth title by defeating Njarðvík 3–2 in the Finals.[1]
The participating teams first played a conventional round-robin schedule with every team playing each opponent once "home" and once "away" for a total of 22 games. The top eight teams qualified for the championship playoffs whilst the bottom team was relegated to Division 1.