| Country: | Iceland |
| Previous Election: | 1971 |
| Election Date: | 30 June 1974 |
| Next Election: | 1978 |
| Seats For Election: | All 40 seats in the Lower House and 20 seats in the Upper House of Althing |
| Turnout: | 91.44% |
| Heading1: | Upper House |
| Heading6: | Lower House |
| Leader1: | Geir Hallgrímsson |
| Leader6: | Geir Hallgrímsson |
| Party1: | Independence Party (Iceland) |
| Party6: | Independence Party (Iceland) |
| Last Election1: | 7 |
| Last Election6: | 15 |
| Seats1: | 8 |
| Seats6: | 17 |
| Percentage1: | 42.73 |
| Percentage6: | 42.73 |
| Leader2: | Ólafur Jóhannesson |
| Leader7: | Ólafur Jóhannesson |
| Party2: | Progressive Party (Iceland) |
| Party7: | Progressive Party (Iceland) |
| Last Election2: | 6 |
| Last Election7: | 11 |
| Seats2: | 6 |
| Seats7: | 11 |
| Percentage2: | 24.87 |
| Percentage7: | 24.87 |
| Leader3: | Ragnar Arnalds |
| Leader8: | Ragnar Arnalds |
| Party3: | People's Alliance (Iceland) |
| Party8: | People's Alliance (Iceland) |
| Last Election3: | 3 |
| Last Election8: | 7 |
| Seats3: | 4 |
| Seats8: | 7 |
| Percentage3: | 18.34 |
| Percentage8: | 18.34 |
| Leader4: | Benedikt Gröndal |
| Leader9: | Benedikt Gröndal |
| Party4: | Social Democratic Party (Iceland) |
| Party9: | Social Democratic Party (Iceland) |
| Last Election4: | 2 |
| Last Election9: | 4 |
| Seats4: | 2 |
| Seats9: | 3 |
| Percentage4: | 9.07 |
| Percentage9: | 9.07 |
| Party10: | Union of Liberals and Leftists |
| Last Election10: | 4 |
| Seats10: | 2 |
| Percentage10: | 4.60 |
| Prime Minister | |
| Before Party: | Progressive Party (Iceland) |
| After Party: | Independence Party (Iceland) |
Parliamentary elections were held in Iceland on 30 June 1974.[1] The Independence Party remained the largest party in the Lower House of the Althing, winning 17 of the 40 seats.[2] They formed a coalition with the Progressive Party and Independence Party leader Geir Hallgrímsson was elected Prime Minister.
Following the 1971 elections, a coalition government had been formed by the Progressive Party, People's Alliance and Union of Liberals and Leftists with the Progressives' Ólafur Jóhannesson as Prime Minister.
Early elections were triggered by the collapse of the coalition due to a petition to reconsider a policy that would close the United States naval base in Keflavik.[3]