| Competition: | Úrvalsdeild |
| Season: | 1998 |
| Winners: | ÍBV 3rd title |
| Relegated: | Þróttur ÍR |
| Matches: | 90 |
| Total Goals: | 249 |
| League Topscorer: |  S. Jóhannesson(16 goals) |
| Prevseason: | 1997 |
| Nextseason: | 1999 |
The 1998 season of Úrvalsdeild was the 87th season of league football in Iceland. ÍBV defended their title. ÍR and Þróttur were relegated.[1] The competition was known as Landssímadeild, due to its sponsorship by the now-defunct company, Landssíminn.
Each team played every opponent once home and away for a total of 18 matches.
| Rank | Player[2] | Club | Goals | |
|---|---|---|---|---|
| 1 | Steingrímur Jóhannesson | ÍBV | 16 | |
| 2 | Tómas Ingi Tómasson | Þróttur | 14 | |
| 3 | Ásmundur Arnarsson | Fram | 8 | |
| 4 | Arnór Guðjohnsen | Valur | 7 | |
| Sigurður Ragnar Eyjólfsson | ÍA | |||
| Guðmundur Benediktsson | KR | |||
| 7 | Sævar Þór Gíslason | ÍR | 6 |