| Election Name: | July 1942 Icelandic parliamentary election |
| Country: | Kingdom of Iceland |
| Type: | parliamentary |
| Ongoing: | no |
| Previous Election: | 1937 |
| Election Date: | 5 July 1942 |
| Next Election: | October 1942 |
| Seats For Election: | All 33 seats in the Lower House and 16 seats in the Upper House of Althing |
| Turnout: | 80.26% |
| Heading1: | Upper House |
| Leader1: | Ólafur Thors |
| Party1: | Independence Party (Iceland) |
| Last Election1: | 6 |
| Seats1: | 6 |
| Percentage1: | 39.52 |
| Leader2: | Jónas frá Hriflu |
| Party2: | Progressive Party (Iceland) |
| Last Election2: | 7 |
| Seats2: | 6 |
| Percentage2: | 27.58 |
| Leader3: | Einar Olgeirsson |
| Party3: | People's Unity Party – Socialist Party |
| Last Election3: | new |
| Seats3: | 2 |
| Percentage3: | 16.21 |
| Party4: | Social Democratic Party (Iceland) |
| Last Election4: | 2 |
| Seats4: | 2 |
| Percentage4: | 15.45 |
| Heading5: | Lower House |
| Leader5: | Ólafur Thors |
| Party5: | Independence Party (Iceland) |
| Last Election5: | 11 |
| Seats5: | 11 |
| Percentage5: | 39.52 |
| Leader6: | Jónas frá Hriflu |
| Party6: | Progressive Party (Iceland) |
| Last Election6: | 12 |
| Seats6: | 14 |
| Percentage6: | 27.58 |
| Leader7: | Einar Olgeirsson |
| Party7: | People's Unity Party – Socialist Party |
| Last Election7: | new |
| Seats7: | 4 |
| Percentage7: | 16.21 |
| Party8: | Social Democratic Party (Iceland) |
| Last Election8: | 6 |
| Seats8: | 4 |
| Percentage8: | 15.45 |
| Prime Minister | |
| Before Party: | Independence Party (Iceland) |
| After Party: | Independence Party (Iceland) |
Parliamentary elections were held in Iceland on 5 July 1942.[1] Although the Independence Party won a plurality of votes, the Progressive Party remained as the largest party in the Lower House of the Althing, winning 14 of the 33 seats.
Following the election, changes were made to the electoral system that reduced the over-representation of the Progressive Party.[2] Early elections were held in October.