The 1998 season of 1. deild karla was the 44th season of second-tier football in Iceland.[1]
| Scorer | Goals | Team |
|---|---|---|
 Atli Kristjánsson | 14 | Breiðablik |
| Valdimar K. Sigurðsson | 11 | Skallagrímur |
| Hjörtur Hjartarson | 10 | Skallagrímur |
| Hörður Magnússon | 10 | FH |
| Höskuldur Þórhallsson | 10 | KA |
| Bjarki Pétursson | 9 | Breiðablik |
| Sumarliði Árnason | 9 | Víkingur R. |
| Boban Ristic | 8 | KVA |
| Brynjar Þór Gestsson | 5 | FH |
| Elmar Eiríksson | 5 | Þór A. |
| Guðmundur Sævarsson | 5 | FH |
| Ívar Sigurjónsson | 5 | Breiðablik |
| Ólafur Þórðarson | 5 | Fylkir |
| Steindór Elísson | 5 | HK |